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China Petroleum and Chemcial (SNP) Showing Bearish Technicals With Resistance At $75.22

Nov 10, 2017 (Marketintelligencecenter.com via COMTEX) --

After Nov 9, 2017aEUR(TM)s trading in China Petroleum and Chemcial (<a href="http://www.marketintelligencecenter.com/symbol/SNP">SNP</a>) the algorithms behind MarketIntelligenceCenter.com's Artifical Intelligence Center picked out a trade that offers a 3.13% or 7.11% (for comparison purposes only), while providing 9.34% downside protection. The trade is a Apr 20, 2018 covered call at the $70 level for a net debit of about $67.87. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $74.46 and $75.22, respectively.

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