Alcon (ACL) 11/10/09 PriceWatch Alert Bullish Price Movement
Posted: Tuesday, November 10, 2009 8:09 AM EDT
By: Market Intelligence Center Staff
Alcon (NYSE: ACL) closed yesterday at $147.29. So far the stock has hit a 52-week low of $66.64 and 52-week high of $148.93. Alcon stock has been showing support around 145.37 and resistance in the 149.89 range. Technical indicators for the stock are Bullish and S&P gives ACL a positive 4 STAR (out of 5) buy rating. ACL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 155 covered call (ACL AK) for a net debit in the $143.89 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 2.31% downside protection and a 7.72% assigned return rate for a 42.06% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.48%. [ATU-Seven Summits Research]
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