Arch Capital Group (ACGL) 11/20/09 PriceWatch Alert With Support Around $69.96
Posted: Friday, November 20, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
Arch Capital Group (NasdaqNM: ACGL) closed yesterday at $70.68. So far the stock has hit a 52-week low of $44.68 and 52-week high of $71.08. Arch Capital Group stock has been showing support around 69.96 and resistance in the 71.24 range. Technical indicators for the stock are Bullish and S&P gives ACGL a neutral 3 STAR (out of 5) hold rating. ACGL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 70 covered call (UOZ CN) for a net debit in the $66.88 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 5.38% downside protection and a 4.67% assigned return rate for a 14.19% annualized return rate (comparison purposes only). Arch Capital Group does not pay dividends at this time. [FBB-Seven Summits Research]
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