Rockwell Automation (ROK) 11/16/09 PriceWatch Alert With Support Around $42.17
Posted: Monday, November 16, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
Rockwell Automation (NYSE: ROK) ended the last trading session at $43.63. 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 42.17 and resistance in the 44.71 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 $38.83 area. That is also the break even stock price for this trade. This covered call has a 61 day duration, provides 11.00% downside protection and a 3.01% assigned return rate for an 18.03% annualized return rate (comparison purposes only). Rockwell Automation has a current annual dividend yield of 2.65%. [ABR-Seven Summits Research]
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