Millipore (MIL) Trading In Tight Support/Resistance Range
Posted: Wednesday, November 11, 2009 9:21 AM EDT
By: Market Intelligence Center Staff
Millipore (NYSE: MIL) closed yesterday at $69.06. So far the stock has hit a 52-week low of $43.36 and 52-week high of $72.99. Millipore stock has been showing support around 68.36 and resistance in the 69.58 range. Technical indicators for the stock are Bullish and S&P gives MIL a positive 4 STAR (out of 5) buy rating. MIL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at an Apr '10 65 covered call (MIL DM) for a net debit in the $62.26 area. That is also the break even stock price for this trade. This covered call has a 157 day duration, provides 9.85% downside protection and a 4.40% assigned return rate for a 10.23% annualized return rate (comparison purposes only). Millipore does not pay dividends at this time. [WBA-Seven Summits Research]
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