ING Group (ING) 10/22/09 PriceWatch Alert Shows Bullish Technicals

Posted: Thursday, October 22, 2009 8:05 AM EDT

ING Group (NYSE: ING) closed yesterday at $17.51. So far the stock has hit a 52-week low of $3.02 and 52-week high of $18.89. ING Group stock has been showing support around 17.06 and resistance in the 18.36 range. Technical indicators for the stock are Bullish and S&P gives ING a neutral 3 STAR (out of 5) hold rating. ING appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 15 covered call (ING DC) for a net debit in the $13.71 area. That is also the break even stock price for this trade. This covered call has a 177 day duration, provides 21.70% downside protection and a 9.41% assigned return rate for a 19.40% annualized return rate (comparison purposes only). ING Group does not pay dividends at this time. [THA-Seven Summits Research]

Click Symbol For More News On: (ING)