AstraZeneca (AZN) PriceWatch Alert for November 5, 2009

Posted: Thursday, November 05, 2009 8:21 AM EDT

AstraZeneca (NYSE: AZN) closed yesterday at $44.80. 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 44.05 and resistance in the 45.51 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 $39.10 area. That is also the break even stock price for this trade. This covered call has a 163 day duration, provides 12.72% downside protection and a 2.30% assigned return rate for a 5.15% annualized return rate (comparison purposes only). AstraZeneca has a current annual dividend yield of 4.70%. [THA-Seven Summits Research]

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