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Ultra Petroleum (UPL) Showing Bearish Technicals

Dec 07, 2017 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on Ultra Petroleum (<a href="">UPL</a>). Look at the Jan 18, 2019 $7.50 covered call for a net debit in the $6.51 area.<br /> <br /> This trade has a duration of 407 days. The break-even point of this trade is the same as the net debit, which gives this trade 26.10% downside protection. If the stock closes at or above $7.50 at expiration this trade will return 15.20% or 13.63% (for comparison purposes only). <br /> <br /> UPL closed Dec 6, 2017's trading session at $8.81. In the past year, the stock has hit a 52-week low of $7.37 and 52-week high of $13.60. Ultra Petroleum stock has been showing support around $8.36 and resistance in the $9.32 range. Recent technical indicators for the stock are bearish.

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