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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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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