Manulife Financial (MFC) 11/6/09 PriceWatch Alert With Support Around $17.63

Posted: Friday, November 06, 2009 8:32 AM EDT

Manulife Financial (NYSE: MFC) closed yesterday at $18.58. So far the stock has hit a 52-week low of $6.94 and 52-week high of $24.97. Manulife Financial stock has been showing support around 17.63 and resistance in the 19.59 range. Technical indicators for the stock are Bearish and S&P gives MFC a neutral 3 STAR (out of 5) hold rating. MFC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Mar '10 17.50 covered call (MFC CW) for a net debit in the $16.18 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 12.92% downside protection and an 8.16% assigned return rate for a 22.22% annualized return rate (comparison purposes only). Manulife Financial has a current annual dividend yield of 2.53%. [FBB-Seven Summits Research]

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