Alcon (ACL) 11/5/09 PriceWatch Alert Shows Bullish Technicals

Posted: Thursday, November 05, 2009 8:16 AM EDT

Alcon (NYSE: ACL) closed yesterday at $144.89. 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 141.60 and resistance in the 146.98 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 $140.09 area. That is also the break even stock price for this trade. This covered call has a 72 day duration, provides 3.31% downside protection and a 7.07% assigned return rate for a 35.86% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.56%. [THA-Seven Summits Research]

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