AstraZeneca (AZN) 11/2/09 PriceWatch Alert Technicals Showing Bearish

Posted: Monday, November 02, 2009 8:07 AM EDT

AstraZeneca (NYSE: AZN) ended the last trading session at $44.91. So far the stock has hit a 52-week low of $29.96 and 52-week high of $47.61. AstraZeneca stock has been showing support around 44.30 and resistance in the 45.80 range. Technical indicators for the stock are Bearish and S&P gives AZN a neutral 3 STAR (out of 5) hold rating. AZN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 40 covered call (AZN DH) for a net debit in the $39.11 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 12.91% downside protection and a 2.28% assigned return rate for a 5.00% annualized return rate (comparison purposes only). AstraZeneca has a current annual dividend yield of 4.63%. [ABR-Seven Summits Research]

Click Symbol For More News On: (AZN)