SPDR S&P Biotech ETF (XBI) 11/20/09 PriceWatch Alert Technicals Showing Bearish
Posted: Friday, November 20, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $50.22. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 49.45 and resistance in the 51.11 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 50 covered call (XBI CX) for a net debit in the $47.12 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 6.17% downside protection and a 6.11% assigned return rate for an 18.59% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
CLICK HERE: FREE (XBI) Stock ReportSee what our analysts have uncovered about (XBI).