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Anadarko Petroleum (APC) Showing Bearish Technicals With Support At $48.80

Nov 07, 2017 ( via COMTEX) --

For a hedged play on Anadarko Petroleum (<a href="">APC</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Dec 15, 2017 $50 covered call for a net debit in the $48.83 area. That is also the break-even stock price for the covered call. This trade will return 2.37%, or 22.81% annualized (for comparison purposes only), in 38 days. This covered call also provides 5.76% downside protection. The current 52-week low is $39.96 and the 52-week high is $73.33. Anadarko Petroleum stock has been showing support around $48.80 and resistance in the $53.36 range. The stock closed Nov 6, 2017's trading session at $51.83. Technical indicators for the stock are bearish and S&P gives APC a 3 STARS (out of 5) hold ranking.

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