Illumina (ILMN) PriceWatch Alert Shows Bullish Technicals
Posted: Thursday, July 02, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Illumina (NasdaqNM: ILMN) closed yesterday at $38.14. So far the stock has hit a 52-week low of $18.82 and 52-week high of $47.88. Illumina stock has been showing support around 37.31 and resistance in the 39.57 range. Technical indicators for the stock are Bullish and S&P gives ILMN a positive 4 STAR (out of 5) buy rating. ILMN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at an Aug '09 35 covered call (IQA HG) for a net debit in the $33.74 area. That is also the break even stock price for this trade. This covered call has a 51 day duration, provides 11.54% downside protection and a 3.73% assigned return rate for a 26.73% annualized return rate (comparison purposes only). Illumina 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]
CLICK HERE: FREE Illumina (ILMN) Stock ReportSee what our analysts have uncovered about Illumina (ILMN).