Unilever (UN) Hit New 52-Week High Yesterday And Is Showing Bullish Technicals

Posted: Wednesday, November 18, 2009 9:16 AM EDT

Unilever (NYSE: UN) closed yesterday at $32.11. So far the stock has hit a 52-week low of $16.91 and 52-week high of $32.23. Unilever stock has been showing support around 31.72 and resistance in the 32.42 range. Technical indicators for the stock are Bullish and S&P gives UN a neutral 3 STAR (out of 5) hold rating. UN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a May '10 30 covered call (UN EF) for a net debit in the $29.01 area. That is also the break even stock price for this trade. This covered call has an 185 day duration, provides 9.65% downside protection and a 3.41% assigned return rate for a 6.73% annualized return rate (comparison purposes only). Unilever has a current annual dividend yield of 1.87%. [WBA-Seven Summits Research]

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