iShares Russell Midcap Growth Index (IWP) 10/29/09 PriceWatch Alert Shows Bearish Technicals
Posted: Thursday, October 29, 2009 8:04 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $41.18. So far IWP has hit a 52-week low of $24.26 and 52-week high of $44.43. IWP has been showing support around 40.28 and resistance in the 42.84 range. Technical indicators are Bearish. IWP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 40 covered call (IWP BH) for a net debit in the $38.38 area. That is also the break even stock price for this trade. This covered call has an 114 day duration, provides 6.80% downside protection and a 4.22% assigned return rate for a 13.51% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
CLICK HERE: FREE (IWP) Stock ReportSee what our analysts have uncovered about (IWP).