Alcon (ACL) 11/2/09 PriceWatch Alert Bullish Price Movement

Posted: Monday, November 02, 2009 8:16 AM EDT

Alcon (NYSE: ACL) ended the last trading session at $142.79. 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 140.22 and resistance in the 146.96 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 Jan '10 150 covered call (ACL AJ) for a net debit in the $138.69 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 2.87% downside protection and an 8.15% assigned return rate for a 39.69% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.54%. [ABR-Seven Summits Research]

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