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Watch for Shares of Integrys Energy (TEG) to Approach Support at $59.82

Published on Mon, 04/15/2013 - 12:47
By Peter Chu

Shares of Integrys Energy (NYSE:TEG) opened today below their pivot of $60.31 and have already reached the first level of support at $60.14. Investors may be interested in a cross of the next downside pivot targets of $59.82 and $59.33.

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

Integrys Energy share prices have moved between a 52-week high of $61.92 and a 52-week low of $51.14 and are now trading 18% above that low price at $60.22 per share. The 200-day and 50-day moving averages have moved 0.16% higher and 0.95% higher over the past week, respectively.

Integrys Energy (NYSE:TEG) is currently priced 5.3% above its average consensus analyst price target of $57.00. The stock should discover initial support at its 50-day moving average (MA) of $56.85 and subsequent support at its 200-day MA of $55.50.

By Peter Chu
pchu@fnno.com