TransCanada Corp. (TRP) 11/2/09 PriceWatch Alert Shows Bearish Technicals
Posted: Monday, November 02, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
TransCanada Corp. (NYSE: TRP) ended the last trading session at $30.54. So far the stock has hit a 52-week low of $22.24 and 52-week high of $32.90. TransCanada stock has been showing support around 29.91 and resistance in the 31.03 range. Technical indicators for the stock are Bearish and S&P gives TRP a neutral 3 STAR (out of 5) hold rating. TRP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 30 covered call (TRP BF) for a net debit in the $29.04 area. That is also the break even stock price for this trade. This covered call has an 110 day duration, provides 4.91% downside protection and a 3.31% assigned return rate for a 10.97% annualized return rate (comparison purposes only). TransCanada has a current annual dividend yield of 4.56%. [ABR-Seven Summits Research]
CLICK HERE: FREE TransCanada (TRP) Stock ReportSee what our analysts have uncovered about TransCanada (TRP).