Valspar (VAL) 11/13/09 PriceWatch Alert With Support Around $26.75
Posted: Friday, November 13, 2009 8:16 AM EDT
By: Market Intelligence Center Staff
Valspar (NYSE: VAL) closed yesterday at $27.22. So far the stock has hit a 52-week low of $14.47 and 52-week high of $28.60. Valspar stock has been showing support around 26.75 and resistance in the 28.09 range. Technical indicators for the stock are Bullish and S&P gives VAL a neutral 3 STAR (out of 5) hold rating. VAL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (VAL DE) for a net debit in the $24.02 area. That is also the break even stock price for this trade. This covered call has a 155 day duration, provides 11.76% downside protection and a 4.08% assigned return rate for a 9.61% annualized return rate (comparison purposes only). Valspar has a current annual dividend yield of 2.17%. [FBB-Seven Summits Research]
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