Symantec (SYMC) 11/20/09 PriceWatch Alert Support Down To $17.46

Posted: Friday, November 20, 2009 8:36 AM EDT

Symantec (NasdaqNM: SYMC) closed yesterday at $17.87. So far the stock has hit a 52-week low of $10.05 and 52-week high of $18.17. Symantec stock has been showing support around 17.46 and resistance in the 18.12 range. Technical indicators for the stock are Bullish and S&P gives SYMC a neutral 3 STAR (out of 5) hold rating. SYMC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 17 covered call (SYQ DQ) for a net debit in the $15.87 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 11.19% downside protection and a 7.12% assigned return rate for a 17.56% annualized return rate (comparison purposes only). Symantec does not pay dividends at this time. [FBB-Seven Summits Research]

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