Alcon (ACL) 10/30/09 PriceWatch Alert Support Down To $142.17

Posted: Friday, October 30, 2009 8:37 AM EDT

Alcon (NYSE: ACL) closed yesterday at $144.74. So far the stock has hit a 52-week low of $66.64 and 52-week high of $148.85. Alcon stock has been showing support around 142.17 and resistance in the 147.17 range. Technical indicators for the stock are Bullish and S&P gives ACL a positive 4 STAR (out of 5) buy rating. ACL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Dec '09 150 covered call (ACL LJ) for a net debit in the $141.34 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 2.35% downside protection and a 6.13% assigned return rate for a 44.73% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.54%. [FBB-Seven Summits Research]

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