Market Vectors Global Agribusiness ETF (MOO) 11/20/09 PriceWatch Alert Shows Bullish Technicals
Posted: Friday, November 20, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Market Vectors Global Agribusiness ETF (PCX: MOO) closed yesterday at $42.54. So far MOO has hit a 52-week low of $20.08 and 52-week high of $43.00. MOO has been showing support around 41.61 and resistance in the 43.13 range. Technical indicators are Bullish. MOO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 42 covered call (MOO BP) for a net debit in the $40.14 area. That is also the break even stock price for this trade. This covered call has a 92 day duration, provides 5.64% downside protection and a 4.63% assigned return rate for an 18.38% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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