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Integrys Energy (TEG) Crosses Pivot Point Resistance at $53.56

Published on Thu, 01/10/2013 - 13:39
By Mallory Stone

Shares of Integrys Energy (NYSE:TEG) have bullishly opened above the pivot of $53.35 today and have reached the first resistance level of $53.56. Should the shares continue to rise, the resistance pivots of $53.85 and $54.35 will be of interest.

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

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 $53.63, which is 6% 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 remained constant.

Potential upside of 4.4% exists for Integrys Energy, based on a current level of $53.63 and analysts' average consensus price target of $56.00. The stock should find resistance at its 200-day moving average (MA) of $54.74, as well as support at its 50-day MA of $53.07.

By Mallory Stone
mstone@fnno.com