Intuit (INTU) 10/27/09 PriceWatch Alert Support At Around $29.34

Posted: Tuesday, October 27, 2009 8:02 AM EDT

Intuit (NasdaqNM: INTU) closed yesterday at $29.92. So far the stock has hit a 52-week low of $20.18 and 52-week high of $31.29. Intuit stock has been showing support around 29.34 and resistance in the 30.72 range. Technical indicators for the stock are Bullish and S&P gives INTU a neutral 3 STAR (out of 5) hold rating. INTU appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at an Apr '10 27.50 covered call (IQU DY) for a net debit in the $26.32 area. That is also the break even stock price for this trade. This covered call has a 172 day duration, provides 12.03% downside protection and a 4.48% assigned return rate for a 9.51% annualized return rate (comparison purposes only). Intuit does not pay dividends at this time. [ATU-Seven Summits Research]

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