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Selective Insurance Group (SIGI) Showing Bearish Technicals With Resistance At $60.48

Dec 07, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Selective Insurance Group (<a href="http://www.marketintelligencecenter.com/symbol/SIGI">SIGI</a>). Look at the Jun 15, 2018 $55 covered call for a net debit in the $52.44 area.<br /> <br /> This trade has a duration of 190 days. The break-even point of this trade is the same as the net debit, which gives this trade 12.07% downside protection. If the stock closes at or above $55 at expiration this trade will return 4.86% or 9.33% (for comparison purposes only). <br /> <br /> SIGI closed Dec 6, 2017's trading session at $59.65. In the past year, the stock has hit a 52-week low of $38.50 and 52-week high of $62.40. Selective Insurance Group stock has been showing support around $59.08 and resistance in the $60.48 range. Recent technical indicators for the stock are bearish.

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