Rockwell Automation (ROK) 11/10/09 PriceWatch Alert Support Down To $40.55
Posted: Tuesday, November 10, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
Rockwell Automation (NYSE: ROK) closed yesterday at $43.30. So far the stock has hit a 52-week low of $17.50 and 52-week high of $45.12. Rockwell Automation stock has been showing support around 40.55 and resistance in the 45.55 range. Technical indicators for the stock are Bullish and S&P gives ROK a neutral 3 STAR (out of 5) hold rating. ROK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 40 covered call (ROK AH) for a net debit in the $38.80 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 10.39% downside protection and a 3.09% assigned return rate for a 16.85% annualized return rate (comparison purposes only). Rockwell Automation has a current annual dividend yield of 2.62%. [ATU-Seven Summits Research]
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