FMC Technologies (FTI) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
FMC Technologies (NYSE: FTI) closed yesterday at $55.59. So far the stock has hit a 52-week low of $20.27 and 52-week high of $59.48. FMC Technologies stock has been showing support around 54.18 and resistance in the 57.32 range. Technical indicators for the stock are Bullish and S&P gives FTI a neutral 3 STAR (out of 5) hold rating. FTI appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 55 covered call (FTI AK) for a net debit in the $52.09 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 6.30% downside protection and a 5.59% assigned return rate for a 35.77% annualized return rate (comparison purposes only). FMC Technologies does not pay dividends at this time. [FBB-Seven Summits Research]
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