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Stock to Watch: MEMC Electronic Materials Down 8.2% (WFR)
Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) --
MEMC Electronic Materials (NYSE:WFR) is one of today's worst performing low-priced stocks, down 8.2% to $4.86 on 1.1x average daily volume. Thus far today, MEMC Electronic Materials has traded 7.2 million shares, vs. average volume of 6.8 million shares per day. The stock has underperformed the Dow (-8.2% to the Dow's -0.2%) and underperformed the S&P 500 (-8.2% to the S&P's -0.4%) during today's trading.
MEMC Electronic Materials (NYSE:WFR) has potential upside of 34.2% based on a current price of $4.86 and analysts' consensus price target of $6.51. The stock should find resistance at its 200-day moving average (MA) of $6.55, as well as support at its 50-day MA of $4.42.
In the past 52 weeks, MEMC Electronic Materials share prices have been bracketed by a low of $3.65 and a high of $15.04 and are now at $4.86, 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has slid 1.4%.
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.
SmarTrend is monitoring the recent change of momentum in MEMC Electronic Materials. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of MEMC Electronic Materials in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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