Albemarle (ALB) 11/20/09 PriceWatch Alert Technicals Showing Bullish
Posted: Friday, November 20, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Albemarle (NYSE: ALB) closed yesterday at $34.08. So far the stock has hit a 52-week low of $15.54 and 52-week high of $35.48. Albemarle stock has been showing support around 33.09 and resistance in the 34.91 range. Technical indicators for the stock are Bullish and S&P gives ALB a neutral 3 STAR (out of 5) hold rating. ALB appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Mar '10 35 covered call (ALB CG) for a net debit in the $31.98 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 6.16% downside protection and a 9.44% assigned return rate for a 28.72% annualized return rate (comparison purposes only). Albemarle has a current annual dividend yield of 1.44%. [FBB-Seven Summits Research]
CLICK HERE: FREE Albemarle (ALB) Stock ReportSee what our analysts have uncovered about Albemarle (ALB).
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