PNC Financial (PNC) PriceWatch Alert Support Down To $37.51

Posted: Wednesday, June 24, 2009 8:07 AM EDT

PNC Financial (NYSE: PNC) closed yesterday at $39.19. So far the stock has hit a 52-week low of $16.20 and 52-week high of $87.99. PNC Financial stock has been showing support around 37.51 and resistance in the 40.73 range. Technical indicators for the stock are Bearish and S&P gives PNC a neutral 3 STAR (out of 5) hold rating. PNC appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Nov '09 37.50 covered call (PZH KS) for a net debit in the $32.59 area. That is also the break even stock price for this trade. This covered call has a 150 day duration, provides 16.84% downside protection and a 15.07% assigned return rate for a 36.66% annualized return rate (comparison purposes only). PNC Financial has a current annual dividend yield of 1.00%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

Click Symbol For More News On: (PNC)