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Integrys Energy (TEG) Breaks Through Support at $51.31

Published on Mon, 12/31/2012 - 10:41
By Adrienne Chilton

Shares of Integrys Energy (NYSE:TEG) opened today below their pivot of $51.84 and have already reached the first level of support at $51.31. Investors may be interested in a cross of the next downside pivot targets of $51.01 and $50.18.

Integrys Energy has overhead space with shares priced $51.38, or 8.2% below the average consensus analyst price target of $56.00. The stock should find initial resistance at its 50-day moving average (MA) of $53.26 and further resistance at its 200-day MA of $54.72.

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 $51.38, which is 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

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

By Adrienne Chilton
achilton@fnno.com