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Watch for Continued Gains in Shares of Firstenergy Corp (FE)

By Shiri Gupta

Shares of Firstenergy Corp (NYSE:FE) traded at a new 52-week high today of $48.04. This new high was reached on below average trading volume as 397,000 shares traded hands, while the average 30-day volume is approximately 4.5 million shares.

Based on a current price of $48.04, Firstenergy Corp is currently 20.7% above its average consensus analyst price target of $38.12. The stock should discover initial support at its 50-day moving average (MA) of $44.33 and subsequent support at its 200-day MA of $41.32.

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.

In the past 52 weeks, Firstenergy Corp share prices have been bracketed by a low of $35.33 and a high of $48.04 and are now at $48.04, 36% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.60% higher over the past week, respectively.

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 24.5%. 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