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Novanta Inc (NOVT) Trading Near $53.27 Resistance Level

Feb 09, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Novanta Inc (<a href="http://www.marketintelligencecenter.com/symbol/NOVT">NOVT</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the May 18, 2018 $45 covered call for a net debit in the $42.80 area. That is also the break-even stock price for the covered call. This trade will return 5.14%, or 19.14% annualized (for comparison purposes only), in 98 days. This covered call also provides 12.11% downside protection. The current 52-week low is $23.45 and the 52-week high is $60.30. Novanta Inc stock has been showing support around $46.37 and resistance in the $53.27 range. The stock closed Feb 8, 2018's trading session at $48.70.A

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