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Watch for Shares of Integrys Energy (TEG) to Approach Resistance at $60.11

Published on Fri, 04/19/2013 - 09:44
By Robert Cotter

Shares of Integrys Energy (NYSE:TEG) have bullishly opened above the pivot of $59.50 today and have reached the first resistance level of $59.79. Should the shares continue to rise, the resistance pivots of $60.11 and $60.72 will be of interest.

Integrys Energy (NYSE:TEG) defies analysts with a current price ($59.84) 4.7% above its average consensus price target of $57.00. The stock should find initial support at its 50-day moving average (MA) of $57.21 and further support at its 200-day MA of $55.56.

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

In the past 52 weeks, Integrys Energy share prices have been bracketed by a low of $51.14 and a high of $61.92 and are now at $59.84, 17% 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 remained constant.

By Robert Cotter
rcotter@fnno.com