Toronto Dominion Bank (TD) PriceWatch Alert Shows Bullish Technicals

Posted: Tuesday, May 05, 2009 8:07 AM EDT

Toronto Dominion Bank (NYSE: TD) closed yesterday at $41.88. So far the stock has hit a 52-week low of $25.86 and 52-week high of $72.50. Toronto Dominion Bank stock has been showing support around 40.00 and resistance in the 42.82 range. Technical indicators for the stock are Bullish. TD appears on the Investors Observer Stocks In The News list. RBC Capital Markets upgraded TD Monday to Sector Perform from Underperform. For a hedged play on this stock, look at a Jul '09 40 covered call (TD GH) for a net debit in the $38.08 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 9.07% downside protection and a 5.04% assigned return rate for a 24.87% annualized return rate (comparison purposes only). Toronto Dominion Bank has a current annual dividend yield of 6.19%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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