Sanofi Aventis (SNY) Trading In Tight Support/Resistance Range
Posted: Monday, November 16, 2009 9:14 AM EDT
By: Market Intelligence Center Staff
Sanofi Aventis (NYSE: SNY) ended the last trading session at $38.22. So far the stock has hit a 52-week low of $23.95 and 52-week high of $40.17. Sanofi Aventis stock has been showing support around 37.42 and resistance in the 38.70 range. Technical indicators for the stock are Bullish and S&P gives SNY a neutral 3 STAR (out of 5) hold rating. SNY appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Jun '10 37.50 covered call (SNY FU) for a net debit in the $35.12 area. That is also the break even stock price for this trade. This covered call has a 215 day duration, provides 8.11% downside protection and a 6.78% assigned return rate for an 11.50% annualized return rate (comparison purposes only). Sanofi Aventis has a current annual dividend yield of 2.94%. [ABR-Seven Summits Research]
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