Allegiant Travel Com (ALGT) Trading Near $122.51 Resistance Level

Allegiant Travel Com (ALGT) Trading Near $122.51 Resistance Level

Allegiant Travel Com (ALGT) Trading Near $122.51 Resistance Level

Oct 12, 2018 (Marketintelligencecenter.com via COMTEX) —

For a hedged play on Allegiant Travel Com (<a href=”http://www.marketintelligencecenter.com/symbol/ALGT”>ALGT</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Nov 16, 2018 $115 covered call for a net debit in the $110.84 area. That is also the break-even stock price for the covered call. This trade will return 3.75%, or 39.14% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.94% downside protection. The current 52-week low is $112.47 and the 52-week high is $181.45. Allegiant Travel Com stock has been showing support around $110.14 and resistance in the $122.51 range. The stock closed Oct 11, 2018’s trading session at $117.83. Technical indicators for the stock are bearish and S&P gives ALGT a 3 STARS (out of 5) hold ranking.

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