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DTE Energy (DTE) Crosses Pivot Point Resistance at $63.81

Published on Tue, 02/05/2013 - 10:45
By Robert Cotter

Shares of DTE Energy (NYSE:DTE) have bullishly opened above the pivot of $63.67 today and have reached the first resistance level of $63.81. Investors may be interested in a cross of the next upside pivot targets of $63.97 and $64.27.

Based on a current price of $64.02, DTE Energy is currently 1.9% above its average consensus analyst price target of $62.81. The stock should discover initial support at its 50-day moving average (MA) of $61.20 and subsequent support at its 200-day MA of $59.51.

DTE Energy Company, a diversified energy company, develops and manages energy-related businesses and services nationwide. The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.

In the past 52 weeks, shares of DTE Energy have traded between a low of $52.76 and a high of $64.28 and are now at $64.02, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

By Robert Cotter
rcotter@fnno.com