Novellus Systems (NVLS) 10/26/09 PriceWatch Alert With Support Around $21.79
Posted: Monday, October 26, 2009 8:38 AM EDT
By: Market Intelligence Center Staff
Novellus Systems (NasdaqNM: NVLS) ended the last trading session at $22.50. So far the stock has hit a 52-week low of $10.26 and 52-week high of $23.17. Novellus Systems stock has been showing support around 21.79 and resistance in the 23.53 range. Technical indicators for the stock are Bullish and S&P gives NVLS a positive 4 STAR (out of 5) buy rating. NVLS appears on the Investors Observer Stocks In The News list. NVLS reported a third-quarter loss of 3 cents per share Thursday morning, better than the 4-cent loss that analysts had been expecting to see. For a hedged play on this stock, look at a Jan '10 21 covered call (NLQ AS) for a net debit in the $20.10 area. That is also the break even stock price for this trade. This covered call has an 82 day duration, provides 10.67% downside protection and a 4.48% assigned return rate for a 19.93% annualized return rate (comparison purposes only). Novellus Systems does not pay dividends at this time. [ABR-Seven Summits Research]
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