PowerShares Golden Dragon Halter USX China Portfolio (PGJ) 11/17/09 PriceWatch Alert With Support Around $24.21
Posted: Tuesday, November 17, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
PowerShares Golden Dragon Halter USX China Portfolio (PCX: PGJ) closed yesterday at $24.73. So far PGJ has hit a 52-week low of $10.91 and 52-week high of $24.79. PGJ has been showing support around 24.21 and resistance in the 25.05 range. Technical indicators are Bullish. PGJ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 24 covered call (PGJ CX) for a net debit in the $22.83 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 7.68% downside protection and a 5.12% assigned return rate for a 15.21% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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