MEMC Electronic Materials (WFR) Approaches New Upside Target of $4.22

Published on Mon, 04/08/2013 - 12:40
By Mallory Stone in Pivot alerts, WFR, memc electronic materials, nyse:wfr, pivot alerts

MEMC Electronic Materials (NYSE:WFR) has opened bullishly above the pivot of $4.09 today and has reached the first level of resistance at $4.16. Investors may be interested in a cross of the next upside pivot targets of $4.22 and $4.35.

MEMC Electronic Materials, Inc. produces silicon wafers. The Company's products are used in computers, telecommunications equipment, automobiles, consumer electronics products, industrial automation and control systems, and analytical and defense systems. MEMC operates manufacturing facilities in Italy, Japan, Malaysia, South Korea, Taiwan, and the United States.

MEMC Electronic Materials has overhead space with shares priced $4.17, or 31.9% below the average consensus analyst price target of $6.12. The stock should hit resistance at its 50-day moving average (MA) of $4.60, as well as support at its 200-day MA of $3.18.

In the past 52 weeks, shares of MEMC Electronic Materials have traded between a low of $1.44 and a high of $5.70 and are now at $4.17, which is 190% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 1.8%.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Shares of Xerox Rise Above Previous 52-W...

Shares of Xerox (NYSE:XRX) traded today at $13.29, breaking its 52-week high. So far t ...

Recent 52-Week High Exceeded in Shares o...

Shares of Weingarten Realty Investors (NYSE:WRI) traded at a new 52-week high today of ...

Shares of VCA Antech Rise to a New 52-We...

VCA Antech (NASDAQ:WOOF) traded at a new 52-week high today of $39.50. So far today ap ...

Westmoreland Coal: The Winning Streak Co...

Shares of Westmoreland Coal (AMEX:WLB) traded at a new 52-week high today of $43.45. T ...

Shares of Windstream Rise Above Previous...

Windstream (NASDAQ:WIN) traded today at a new 52-week high of $10.57. Approximately 3. ...

Titan International: The Losing Streak C...

Shares of Titan International (NYSE:TWI) traded today at $13.97, breaking its 52-week l ...

Tupperware Brands: New 52-Week Low Set T...

Shares of Tupperware Brands (NYSE:TUP) traded at a new 52-week low today of $73.72. Th ...

Watch for Continued Gains in Shares of T...

Shares of TriQuint Semiconductor (NASDAQ:TQNT) traded today at $18.50, breaking its 52- ...