First Trust ISE Chindia (FNI) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
First Trust ISE Chindia (PCX: FNI) closed yesterday at $20.77. So far FNI has hit a 52-week low of $8.60 and 52-week high of $21.42. FNI has been showing support around 20.46 and resistance in the 21.24 range. Technical indicators are Bullish. FNI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 20 covered call (FNI FT) for a net debit in the $18.12 area. That is also the break even stock price for this trade. This covered call has a 211 day duration, provides 12.76% downside protection and a 10.38% assigned return rate for a 17.95% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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