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United Continental (UAL) Showing Bearish Technicals With Resistance At $66.46

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

For a hedged play on United Continental (<a href="http://www.marketintelligencecenter.com/symbol/UAL">UAL</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Mar 16, 2018 $62.50 covered call for a net debit in the $59.91 area. That is also the break-even stock price for the covered call. This trade will return 4.30%, or 44.90% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.44% downside protection. The current 52-week low is $56.51 and the 52-week high is $83.04. United Continental stock has been showing support around $61.78 and resistance in the $66.46 range. The stock closed Feb 8, 2018's trading session at $63.36. Technical indicators for the stock are bearish and S&P gives UAL a 3 STARS (out of 5) hold ranking.

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