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Merrimack Pharmaceuticals (MACK) Showing Bearish Technicals With Support At $10.95

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

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Merrimack Pharmaceuticals (<a href="http://www.marketintelligencecenter.com/symbol/MACK">MACK</a>). Look at the Jun 15, 2018 $10 covered call for a net debit in the $8.86 area.<br /> <br /> This trade has a duration of 217 days. The break-even point of this trade is the same as the net debit, which gives this trade 25.91% downside protection. If the stock closes at or above $10 at expiration this trade will return 12.86% or 21.64% (for comparison purposes only). <br /> <br /> MACK closed Nov 9, 2017's trading session at $11.96. In the past year, the stock has hit a 52-week low of $11.14 and 52-week high of $67.90. Merrimack Pharmaceuticals stock has been showing support around $10.95 and resistance in the $12.51 range. Recent technical indicators for the stock are bearish.

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