Rochester, NY 6/26/2009 1:28:32 AM
Afternoon Report - ACH - Technical Indicators for Aluminum Corporation of China are Bullish - Sourced WhisperFromWallStreet.com
Aluminum Corporation of China
Afternoon Report - ACH - Technical Indicators for Aluminum Corporation of China are Bullish - Sourced WhisperFromWallStreet.com
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ALUMINUM CP CHIN ADS,ACH
Aluminum Corporation of China (NYSE: ACH) closed yesterday at $24.29. So far the stock has hit a 52-week low of $7.22 and 52-week high of $30.19. Aluminum Corporation of China stock has been showing support around 23.39 and resistance in the 25.33 range. Technical indicators for the stock are Bullish and S&P gives ACH a neutral 3 STAR (out of 5) hold rating. ACH appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 17.50 covered call (ACH AW) for a net debit in the $15.99 area. That is also the break even stock price for this trade. This covered call has a 205 day duration, provides 34.17% downside protection and a 9.44% assigned return rate for a 16.81% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase.
About
Aluminum Corporation of China Limited and its subsidiaries engage in bauxite mining, alumina refining, and aluminum smelting businesses in the People?s Republic of China. Its principal products include alumina, primary aluminum, aluminum fabricated products, gallium, and carbon-related products. The companys Alumina segment involves in mining and purchasing bauxite and other raw materials, refining bauxite into alumina, and selling alumina.
Last Trade: 24.54
Day's Range: 23.70 - 24.65
52wk Range: 7.22 - 30.19
Volume: 573,140
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