Urban Outfitters (URBN) Down 1% Yesterday But Still Just Below 52 Week High With Bullish Technicals

Posted: Thursday, October 22, 2009 8:43 AM EDT

Urban Outfitters (NasdaqNM: URBN) closed yesterday at $32.33. So far the stock has hit a 52-week low of $12.33 and 52-week high of $33.99. Urban Outfitters stock has been showing support around 31.09 and resistance in the 34.61 range. Technical indicators for the stock are Bullish and S&P gives URBN a positive 4 STAR (out of 5) buy rating. URBN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Dec '09 31 covered call (HXW LE) for a net debit in the $29.58 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 8.51% downside protection and a 4.80% assigned return rate for a 30.21% annualized return rate (comparison purposes only). Urban Outfitters does not pay dividends at this time. [THA-Seven Summits Research]

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