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Westamerica Bancorp (WABC) Showing Resistance Near $61.19

Jan 03, 2018 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on Westamerica Bancorp (<a href="">WABC</a>). Look at the Jul 20, 2018 $55 covered call for a net debit in the $52.85 area.<br /> <br /> This trade has a duration of 198 days. The break-even point of this trade is the same as the net debit, which gives this trade 10.95% downside protection. If the stock closes at or above $55 at expiration this trade will return 4.04% or 7.46% (for comparison purposes only). <br /> <br /> WABC closed Jan 2, 2018's trading session at $59.36. In the past year, the stock has hit a 52-week low of $49.38 and 52-week high of $64.91. Westamerica Bancorp stock has been showing support around $57.99 and resistance in the $61.19 range. Recent technical indicators for the stock are bearish.

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