Pacific Gas and Electric (PCG) Showing Bullish Price Movement With Support At 41.04
Posted: Friday, November 20, 2009 9:14 AM EDT
By: Market Intelligence Center Staff
Pacific Gas and Electric (NYSE: PCG) closed yesterday at $41.53. So far the stock has hit a 52-week low of $33.61 and 52-week high of $43.21. Pacific Gas and Electric stock has been showing support around 41.04 and resistance in the 42.16 range. Technical indicators for the stock are Bullish and S&P gives PCG a neutral 3 STAR (out of 5) hold rating. PCG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 40 covered call (PCG CH) for a net debit in the $38.93 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 6.26% downside protection and a 2.75% assigned return rate for an 8.36% annualized return rate (comparison purposes only). Pacific Gas and Electric has a current annual dividend yield of 3.98%. [FBB-Seven Summits Research]
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