PPG Industries (PPG) 11/12/09 PriceWatch Alert Support At Around $60.29
Posted: Thursday, November 12, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
PPG Industries (NYSE: PPG) closed yesterday at $61.18. 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 60.29 and resistance in the 62.17 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 $57.48 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 6.05% downside protection and a 4.38% assigned return rate for a 24.62% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.55%. [THA-Seven Summits Research]
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