McCormick (MKC) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:16 AM EDT
By: Market Intelligence Center Staff
McCormick (NYSE: MKC) closed yesterday at $35.99. So far the stock has hit a 52-week low of $28.08 and 52-week high of $36.25. McCormick stock has been showing support around 35.24 and resistance in the 36.42 range. Technical indicators for the stock are Bullish and S&P gives MKC a neutral 3 STAR (out of 5) hold rating. MKC appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jun '10 35 covered call (MKC FG) for a net debit in the $33.94 area. That is also the break even stock price for this trade. This covered call has a 211 day duration, provides 5.70% downside protection and a 3.12% assigned return rate for a 5.40% annualized return rate (comparison purposes only). McCormick has a current annual dividend yield of 2.65%. [FBB-Seven Summits Research]
CLICK HERE: FREE McCormick (MKC) Stock ReportSee what our analysts have uncovered about McCormick (MKC).