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Entergy (ETR) Breaks Through Resistance at $63.32

Published on Tue, 03/05/2013 - 10:49
By Adrienne Chilton

Shares of Entergy (NYSE:ETR) have bullishly opened above the pivot of $62.64 today and have reached the first resistance level of $63.32. Analysts will be watching for a cross of the next upside pivot targets of $63.70 and $64.76.

In the past 52 weeks, Entergy share prices have been bracketed by a low of $61.09 and a high of $74.50 and are now at $63.45, 4% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.18% lower over the past week, respectively.

Entergy Corporation is an integrated energy company that is primarily focused on electric power production and retail electric distribution operations. The Company delivers electricity to utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy also owns and operates nuclear plants in the northern United States

Potential upside of 2.2% exists for Entergy, based on a current level of $63.45 and analysts' average consensus price target of $64.86. The stock should run into initial resistance at its 50-day moving average (MA) of $63.50 and subsequent resistance at its 200-day MA of $66.65.

By Adrienne Chilton