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iShares North American Natural Resources ETF (IGE) Showing Bearish Technicals With Resistance At $34.48

Nov 10, 2017 ( via COMTEX) --

For a hedged play on iShares North American Natural Resources ETF (<a href="">IGE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 20, 2018 $34 covered call for a net debit in the $32.78 area. That is also the break-even stock price for the covered call. This trade will return 3.69%, or 8.36% annualized (for comparison purposes only), in 161 days. This covered call also provides 4.23% downside protection. The current 52-week low is $30.59 and the 52-week high is $37.62. iShares North American Natural Resources ETF stock has been showing support around $33.78 and resistance in the $34.48 range. The stock closed Nov 9, 2017's trading session at $34.24.A

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