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Entegris Bearish Moving Average Crossover Alert (ENTG)

Published on Wed, 04/17/2013 - 11:30
By Adrienne Chilton

Entegris (NASDAQ:ENTG) crossed under its 10-day moving average of $9.56 on a volume of 251K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Entegris share prices have moved between a 52-week high of $10.58 and a 52-week low of $6.00 and are now trading 55% above that low price at $9.32 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.3%.

Entegris Inc. provides materials management products and services to the microelectronics industry on a worldwide basis. The Company provides products such as wafer shippers, wafer transport and process carriers, pods, and work-in-process boxes. Entegris also provides chemical delivery products such as valves, fittings, tubing, pipe, and containers.

Entegris has overhead space with shares priced $9.32, or 20.7% below the average consensus analyst price target of $11.75. The stock should find resistance at its 50-day moving average (MA) of $9.69, as well as support at its 200-day MA of $8.91.

By Adrienne Chilton