PowerShares Water Resource Portfolio (PHO) 11/9/09 PriceWatch Alert Shows Bullish Technicals
Posted: Monday, November 09, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
PowerShares Water Resource Portfolio (PCX: PHO) ended the last trading session at $16.27. So far PHO has hit a 52-week low of $10.10 and 52-week high of $17.52. PHO has been showing support around 15.90 and resistance in the 16.66 range. Technical indicators are Bullish. PHO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 16 covered call (PHO CP) for a net debit in the $15.07 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 7.38% downside protection and a 6.17% assigned return rate for a 17.19% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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