Urban Outfitters (URBN) PriceWatch Alert Support Down To $24.42

Posted on Monday, October 06, 2008 8:07 AM

Urban Outfitters (NasdaqNM: URBN) ended the last trading session at $26.55. So far the stock has hit a 52-week low of $21.25 and 52-week high of $38.40. Urban Outfitters stock has been showing support around 24.42 and resistance in the 30.32 range. Technical indicators for the stock are Bearish and S&P gives URBN a positive 4 STAR (out of 5) buy rating. URBN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '09 20 covered call (URQ AD) for a net debit in the $18.85 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 29.00% downside protection and a 6.10% assigned return rate for a 21.62% annualized return rate (comparison purposes only). Urban Outfitters does not pay dividends at this time. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]