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Pilgrim's Pride (PPC) Showing Bearish Technicals With Resistance At $34.70

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

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Pilgrim's Pride (<a href="http://www.marketintelligencecenter.com/symbol/PPC">PPC</a>). Look at the Mar 16, 2018 $33 covered call for a net debit in the $31.07 area.<br /> <br /> This trade has a duration of 126 days. The break-even point of this trade is the same as the net debit, which gives this trade 8.40% downside protection. If the stock closes at or above $33 at expiration this trade will return 6.21% or 17.99% (for comparison purposes only). <br /> <br /> PPC closed Nov 9, 2017's trading session at $33.91. In the past year, the stock has hit a 52-week low of $17.15 and 52-week high of $34.08. Pilgrim's Pride stock has been showing support around $32.68 and resistance in the $34.70 range. Recent technical indicators for the stock are bearish.

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