Fortune Brands (FO) 11/9/09 PriceWatch Alert Technicals Showing Bearish
Posted: Monday, November 09, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
Fortune Brands (NYSE: FO) ended the last trading session at $39.28. So far the stock has hit a 52-week low of $17.68 and 52-week high of $46.77. Fortune Brands stock has been showing support around 38.66 and resistance in the 40.20 range. Technical indicators for the stock are Bearish and S&P gives FO a neutral 3 STAR (out of 5) hold rating. FO appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '10 35 covered call (FO CG) for a net debit in the $33.48 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 14.77% downside protection and a 4.54% assigned return rate for a 12.65% annualized return rate (comparison purposes only). Fortune Brands has a current annual dividend yield of 1.96%. [ABR-Seven Summits Research]
CLICK HERE: FREE Fortune Brands (FO) Stock ReportSee what our analysts have uncovered about Fortune Brands (FO).