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Wright Medical Group (WMGI) Showing Bearish Technicals With Resistance At $23.53

Dec 07, 2017 ( via COMTEX) --

After Dec 6, 2017aEUR(TM)s trading in Wright Medical Group (<a href="">WMGI</a>) the option-trade picking algorithms that power's Artificial Intelligence Center uncovered a trade that offers a 7.96% return, or 17.94% annualized (for comparison purposes only), while providing 9.93% downside protection. The trade is a May 18, 2018 covered call at the $22.50 level for a net debit of about $20.83. The net debit is also the breakeven point for this trade. Standard & PooraEUR(TM)s has a 3 STARS (out of 5) hold ranking on Wright Medical Group. Technical indicators for the stock have been bearish and support and resistance have been in the area of $22.73 and $23.53, respectively.

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