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MEMC Electronic Materials (WFR) Breaks Through Resistance at $4.26
[February 07, 2013]

MEMC Electronic Materials (WFR) Breaks Through Resistance at $4.26

Feb 07, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of MEMC Electronic Materials (NYSE:WFR) opened today above their pivot of $4.19 and have already reached the first level of resistance at $4.26. Should the shares continue to rise, the resistance pivots of $4.38 and $4.57 will be of interest.

MEMC Electronic Materials (NYSE:WFR) is currently priced 5.6% above its average consensus analyst price target of $4.15. The stock should discover initial support at its 50-day moving average (MA) of $3.52 and subsequent support at its 200-day MA of $2.72.

In the past 52 weeks, MEMC Electronic Materials share prices have been bracketed by a low of $1.44 and a high of $5.95 and are now at $4.39, 205% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of MEMC Electronic Materials on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.93. Since that recommendation, shares of MEMC Electronic Materials have risen 51.5%. We continue to monitor WFR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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