Alcon (ACL) 10/26/09 PriceWatch Alert Bullish Price Movement
Posted: Monday, October 26, 2009 8:04 AM EDT
By: Market Intelligence Center Staff
Alcon (NYSE: ACL) ended the last trading session at $146.62. So far the stock has hit a 52-week low of $66.64 and 52-week high of $148.85. Alcon stock has been showing support around 144.72 and resistance in the 149.66 range. Technical indicators for the stock are Bullish and S&P gives ACL a positive 4 STAR (out of 5) buy rating. ACL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Dec '09 155 covered call (ACL LK) for a net debit in the $144.12 area. That is also the break even stock price for this trade. This covered call has a 54 day duration, provides 1.71% downside protection and a 7.55% assigned return rate for a 51.03% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.50%. [ABR-Seven Summits Research]
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