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 Aluminum Corporation of China (ACH) Could Break Through $17.13 Resistance Level
 
CreateTime:2011-09-02     Source:marketintelligencecenter Editor:lile
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Aluminum Corporation of China (NYSE:ACH) closed Wednesday's uneventful trading session at $16.96. In the past year, the stock has hit a 52-week low of $15.51 and 52-week high of $26.80. Aluminum Corporation of China (ACH) stock has been showing support around $16.67 and resistance in the $17.13 range. Technical indicators for the stock are Bearish. For a hedged play on Aluminum Corporation of China (ACH), look at the Jan '12 $16.00 covered call for a net debit in the $14.71 area. That is also the break-even stock price for this trade. This covered call has a duration of 142 days, provides 13.27% downside protection and an assigned return rate of 8.77% for an annualized return rate of 22.54% (for comparison purposes only). Aluminum Corporation of China (ACH) has a current annual dividend yield of 0.22%. [THA-Seven Summits Research]

 


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