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Firstenergy Corp Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

Firstenergy Corp (NYSE:FE) traded today at a new 52-week high of $42.28. This new high was reached on below average trading volume as 399,000 shares traded hands, while the average 30-day volume is approximately 4.5 million shares.

FirstEnergy Corp. is a public utility holding company. The Company's subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, exploration and production of oil and natural gas, transmission and marketing of natural gas, and energy management and other energy-related services.

Firstenergy Corp (NYSE:FE) defies analysts with a current price ($42.28) 9.9% above its average consensus price target of $38.12. The stock should discover initial support at its 50-day moving average (MA) of $41.05 and subsequent support at its 200-day MA of $38.48.

Firstenergy Corp share prices have moved between a 52-week high of $42.28 and a 52-week low of $32.92 and are now trading 28% above that low price at $42.28 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Firstenergy Corp on January 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.23. Since that recommendation, shares of Firstenergy Corp have risen 9.8%. We continue to monitor FE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows firstenergy corp

Ticker(s): FE