Harman International Industries (HAR) 8/27/09 PriceWatch Alert Support Down To $28.61
Posted: Thursday, August 27, 2009 8:12 AM EDT
By: Market Intelligence Center Staff
Harman International Industries (NYSE: HAR) closed yesterday at $29.66. So far the stock has hit a 52-week low of $9.17 and 52-week high of $36.84. Harman International Industries stock has been showing support around 28.61 and resistance in the 30.65 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. Analysts at JP Morgan initiated HAR on Tuesday at Overweight. For a hedged play on this stock, look at a Jan '10 27.50 covered call (HAR AY) for a net debit in the $24.66 area. That is also the break even stock price for this trade. This covered call has a 142 day duration, provides 16.86% downside protection and an 11.52% assigned return rate for a 29.60% annualized return rate (comparison purposes only). Harman International Industries does not pay dividends at this time. [THA-Seven Summits Research] 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).