Valspar (VAL) 11/2/09 PriceWatch Alert Support At Around $24.97
Posted: Monday, November 02, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
Valspar (NYSE: VAL) ended the last trading session at $25.37. So far the stock has hit a 52-week low of $14.47 and 52-week high of $28.60. Valspar stock has been showing support around 24.97 and resistance in the 26.01 range. Technical indicators for the stock are Bearish and S&P gives VAL a neutral 3 STAR (out of 5) hold rating. VAL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 25 covered call (VAL AE) for a net debit in the $23.87 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 5.91% downside protection and a 4.73% assigned return rate for a 23.04% annualized return rate (comparison purposes only). Valspar has a current annual dividend yield of 2.36%. [ABR-Seven Summits Research]
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