Harman International Industries (HAR) PriceWatch Alert Bullish Price Movement
Posted: Thursday, July 23, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Harman International Industries (NYSE: HAR) closed yesterday at $22.09. So far the stock has hit a 52-week low of $9.17 and 52-week high of $44.69. Harman International Industries stock has been showing support around 20.20 and resistance in the 23.08 range. Technical indicators for the stock are Bullish and S&P gives HAR a very weak 1 STAR (out of 5) strong sell rating. HAR appears on the Investors Observer Stocks In The News list. On Monday, HAR publicly denied rumors that Arabian Peninsula Group, a private investment firm, planned to acquire the company for $49.50 per share. For a hedged play on this stock, look at a Jan '10 17.50 covered call (HAR AS) for a net debit in the $16.19 area. That is also the break even stock price for this trade. This covered call has a 177 day duration, provides 26.71% downside protection and an 8.09% assigned return rate for a 16.69% annualized return rate (comparison purposes only). Harman International Industries 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 Harman International Industries (HAR) Stock ReportSee what our analysts have uncovered about Harman International Industries (HAR).