Symantec (SYMC) 10/26/09 PriceWatch Alert Shows Bullish Technicals

Posted: Monday, October 26, 2009 8:05 AM EDT

Symantec (NasdaqNM: SYMC) ended the last trading session at $16.66. So far the stock has hit a 52-week low of $10.05 and 52-week high of $18.17. Symantec stock has been showing support around 16.29 and resistance in the 17.29 range. Technical indicators for the stock are Bullish and S&P gives SYMC a neutral 3 STAR (out of 5) hold rating. SYMC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 16 covered call (SYQ DH) for a net debit in the $14.71 area. That is also the break even stock price for this trade. This covered call has a 173 day duration, provides 11.70% downside protection and an 8.77% assigned return rate for an 18.50% annualized return rate (comparison purposes only). Symantec does not pay dividends at this time. [ABR-Seven Summits Research]

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