Allscripts Healthcare Solutions (MDRX) 10/7/09 PriceWatch Alert Bullish Price Movement

Posted: Wednesday, October 07, 2009 8:23 AM EDT

Allscripts Healthcare Solutions (NasdaqNM: MDRX) closed yesterday at $20.07. So far the stock has hit a 52-week low of $4.20 and 52-week high of $20.61. Allscripts Healthcare Solutions stock has been showing support around 19.11 and resistance in the 20.89 range. Technical indicators for the stock are Bullish. MDRX appears on the Investors Observer Stocks In The News list. Wells Fargo initiated MDRX at Outperform on Tuesday. For a hedged play on this stock, look at a Jan '10 17.50 covered call (MXQ AW) for a net debit in the $16.57 area. That is also the break even stock price for this trade. This covered call has a 101 day duration, provides 17.44% downside protection and a 5.61% assigned return rate for a 20.28% annualized return rate (comparison purposes only). Allscripts Healthcare Solutions does not pay dividends at this time. [WBA-Seven Summits Research]

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