Rochester,NY 8/20/2009 2:17:56 AM
Goldcorp Inc. (USA), GG - Goldcorp Shows Bearish Technicals
Goldcorp Inc. (USA)
Goldcorp closed at $35.36 yesterday. and the stock has hit a 52-week low of $13.84 and 52-week high of $40.82. Goldcorp stock has been showing support around 34.06 and resistance in the 37.30 range.
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Technical indicators for the stock are Bearish. GG appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 36 covered call for a net debit in the $31.46 area. That is also the break even stock price for this trade. This covered call has a 152 day duration, provides 11.03% downside protection and a 14.43% assigned return rate for a 34.65% annualized return rate.
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