Credit Suisse Group (CS) With Support Around $54.91And an S&P 4 Stars Buy Rating
Posted: Monday, October 26, 2009 9:11 AM EDT
By: Market Intelligence Center Staff
Credit Suisse Group (NYSE: CS) ended the last trading session at $56.00. So far the stock has hit a 52-week low of $18.61 and 52-week high of $60.08. Credit Suisse Group stock has been showing support around 54.91 and resistance in the 57.35 range. Technical indicators for the stock are Bullish and S&P gives CS a positive 4 STAR (out of 5) buy rating. CS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 55 covered call (CS LK) for a net debit in the $52.60 area. That is also the break even stock price for this trade. This covered call has a 54 day duration, provides 6.07% downside protection and a 4.56% assigned return rate for a 30.84% annualized return rate (comparison purposes only). Credit Suisse Group has a current annual dividend yield of 0.10%. [ABR-Seven Summits Research]
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