Stanley Works (SWK) 11/3/09 PriceWatch Alert Support At Around $43.97

Posted: Tuesday, November 03, 2009 8:24 AM EDT

Stanley Works (NYSE: SWK) closed yesterday at $45.15. So far the stock has hit a 52-week low of $22.61 and 52-week high of $48.62. Stanley Works stock has been showing support around 43.97 and resistance in the 46.41 range. Technical indicators for the stock are Bullish and S&P gives SWK a neutral 3 STAR (out of 5) hold rating. SWK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 45 covered call (SWK AI) for a net debit in the $42.85 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 5.09% downside protection and a 5.02% assigned return rate for a 24.75% annualized return rate (comparison purposes only). Stanley Works has a current annual dividend yield of 2.89%. [ATU-Seven Summits Research]

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