Trade Alert - MEMC Electronic Materials at New Lows
Published on Tuesday, 10 April 2012 13:34 Written by TradersHuddle Wire
New York, April 10th (TradersHuddle.com) - Shares of MEMC Electronic Materials, Inc. (NYSE:WFR) booked a new 52 week low by trading below $3.33. Traders are definitely monitoring MEMC's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.
MEMC Electronic Materials, Inc. (NYSE:WFR) 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 Electronic Materials is currently trading 0.6% versus its previous trading session close, and it has calculated support and resistance at $3.55 and $4.00 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.
The overall market index S&P 500 is trading lower by -1.52% from its previous trading close, which means that MEMC Electronic Materials stock is outperforming the overall market.
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