Ball (BLL) 11/6/09 PriceWatch Alert Shows Bearish Technicals

Posted: Friday, November 06, 2009 8:34 AM EDT

Ball (NYSE: BLL) closed yesterday at $49.27. So far the stock has hit a 52-week low of $28.15 and 52-week high of $52.46. Ball stock has been showing support around 48.52 and resistance in the 50.06 range. Technical indicators for the stock are Bearish and S&P gives BLL a positive 4 STAR (out of 5) buy rating. BLL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 45 covered call (BLL BI) for a net debit in the $43.77 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 11.16% downside protection and a 2.81% assigned return rate for a 9.68% annualized return rate (comparison purposes only). Ball has a current annual dividend yield of 0.81%. [FBB-Seven Summits Research]

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