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MEMC Electronic Materials Trading Higher on 1.6x Above-Average Volume (WFR)

Published on Fri, 02/15/2013 - 14:12
By Robert Cotter

MEMC Electronic Materials's stock is up 3.6% to $5.24 on heavy trading volume. Approximately 10.4 million shares have changed hands today vs. average 30-day volume of 6.7 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

MEMC Electronic Materials (NYSE:WFR) is currently priced 15.3% above its average consensus analyst price target of $4.44. The stock should find initial support at its 50-day moving average (MA) of $3.73 and further support at its 200-day MA of $2.75.

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.

In the past 52 weeks, shares of MEMC Electronic Materials have traded between a low of $1.44 and a high of $5.49 and are now at $5.24, which is 264% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 3.9%.

By Robert Cotter
rcotter@fnno.com