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Shoe Carnival Inc (SCVL) Showing Bearish Technicals With Support At $26.30

Jan 03, 2018 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Shoe Carnival Inc (<a href="http://www.marketintelligencecenter.com/symbol/SCVL">SCVL</a>). Look at the Mar 16, 2018 $25 covered call for a net debit in the $23.83 area.<br /> <br /> This trade has a duration of 72 days. The break-even point of this trade is the same as the net debit, which gives this trade 11.83% downside protection. If the stock closes at or above $25 at expiration this trade will return 4.90% or 24.88% (for comparison purposes only). <br /> <br /> SCVL closed Jan 2, 2018's trading session at $27.03. In the past year, the stock has hit a 52-week low of $15.07 and 52-week high of $28.38. Shoe Carnival Inc stock has been showing support around $26.30 and resistance in the $27.66 range. Recent technical indicators for the stock are bearish.

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