Pitney Bowes (PBI) 11/17/09 PriceWatch Alert Support At Around $24.82
Posted: Tuesday, November 17, 2009 8:11 AM EDT
By: Market Intelligence Center Staff
Pitney Bowes (NYSE: PBI) closed yesterday at $25.02. So far the stock has hit a 52-week low of $17.62 and 52-week high of $27.46. Pitney Bowes stock has been showing support around 24.82 and resistance in the 25.12 range. Technical indicators for the stock are Bullish and S&P gives PBI a positive 4 STAR (out of 5) buy rating. PBI appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (PBI DE) for a net debit in the $23.62 area. That is also the break even stock price for this trade. This covered call has a 151 day duration, provides 5.60% downside protection and a 5.84% assigned return rate for a 14.12% annualized return rate (comparison purposes only). Pitney Bowes has a current annual dividend yield of 5.80%. [ATU-Seven Summits Research]
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