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Nalco (NLC) Could Fall Through $35.23 Support Level
Edited by : AL CIRCLE
1 min read
Nalco (NYSE:NLC) closed Tuesday's meandering trading session at $36.41. In the past year, the stock has hit a 52-week low of $22.32 and 52-week high of $37.34. Nalco (NLC) stock has been showing support around $35.23 and resistance in the $37.15 range. Technical indicators for the stock are Bullish. For a hedged play on Nalco (NLC), look at the Dec '11 $36.00 covered call for a net debit in the $34.66 area. That is also the break-even stock price for this trade. This covered call has a duration of 108 days, provides 4.81% downside protection and an assigned return rate of 3.87% for an annualized return rate of 13.07% (for comparison purposes only). Nalco (NLC) has a current annual dividend yield of 0.39%.
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