Aluminum Corporation of China (ACH) 11/20/09 PriceWatch Alert Technicals Showing Bearish
Posted: Friday, November 20, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
Aluminum Corporation of China (NYSE: ACH) closed yesterday at $27.75. So far the stock has hit a 52-week low of $8.11 and 52-week high of $32.79. Aluminum Corporation of China stock has been showing support around 27.24 and resistance in the 28.26 range. Technical indicators for the stock are Bearish. ACH appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 26 covered call (ACH AD) for a net debit in the $24.95 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 10.09% downside protection and a 4.21% assigned return rate for a 26.95% annualized return rate (comparison purposes only). Aluminum Corporation of China does not pay dividends at this time. [FBB-Seven Summits Research]
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