Integrys Energy Crosses Above its 10-day MA (TEG)

Published on Wed, 01/02/2013 - 12:30
By Adrienne Chilton in Moving average crossovers, TEG, integrys energy, moving crosses, nyse:teg

Integrys Energy (NYSE:TEG) crossed over its 10-day moving average of $52.89 on a volume of 109K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Integrys Energy have traded between a low of $50.80 and a high of $61.92 and are now at $53.03, which is 4% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Integrys Energy Group, Inc. distributes electricity and natural gas to customers in the upper midwestern United States.

There is potential upside of 5.6% for shares of Integrys Energy based on a current price of $53.03 and an average consensus analyst price target of $56.00. The stock should run into initial resistance at its 50-day moving average (MA) of $53.21 and subsequent resistance at its 200-day MA of $54.72.

By Adrienne Chilton
achilton@fnno.com

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