PPG Industries (PPG) 11/11/09 PriceWatch Alert Support Down To $60.04
Posted: Wednesday, November 11, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
PPG Industries (NYSE: PPG) closed yesterday at $60.97. So far the stock has hit a 52-week low of $28.16 and 52-week high of $62.31. PPG Industries stock has been showing support around 60.04 and resistance in the 61.72 range. Technical indicators for the stock are Bullish and S&P gives PPG a very positive 5 STAR (out of 5) strong buy rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 60 covered call (PPG AL) for a net debit in the $57.27 area. That is also the break even stock price for this trade. This covered call has a 66 day duration, provides 6.07% downside protection and a 4.77% assigned return rate for a 26.36% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.55%. [WBA-Seven Summits Research]
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