iShares MSCI Australia Index Fund (EWA) 11/6/09 PriceWatch Alert Support At Around $22.26
Posted: Friday, November 06, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
iShares MSCI Australia Index Fund (PCX: EWA) closed yesterday at $22.53. So far EWA has hit a 52-week low of $10.50 and 52-week high of $24.57. EWA has been showing support around 22.26 and resistance in the 22.74 range. Technical indicators are Bullish. EWA appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 22 covered call (EWA DD) for a net debit in the $20.78 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 7.77% downside protection and a 5.87% assigned return rate for a 13.23% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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