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TEG Crosses Critical Technical Indicator

By Energy Stock Channel Staff, Thursday, October 27, 11:48 AM ET
Play Video: Learn About The RSI


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In trading on Thursday, shares of Integrys Energy Group Inc (TEG) entered into overbought territory, changing hands as high as $53.685 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.

In the case of Integrys Energy Group Inc, the RSI reading has hit 70.8 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 60.0, the RSI of WTI Crude Oil is at 60.6, and the RSI of Henry Hub Natural Gas is presently 40.8.

A bearish investor could look at TEG's 70.8 reading as a sign that the recent heavy buying is in the process of exhausting itself, and shares are due for a pullback.

Looking at a chart of one year performance (below), TEG's low point in its 52 week range is $42.76 per share, with $54.45 as the 52 week high point that compares with a last trade of $53.66. Integrys Energy Group Inc shares are currently trading up about 2.6% on the day.

Integrys Energy Group Inc 1 Year Performance Chart

According to the ETF Finder at ETF Channel, TEG makes up 2.45% of the Rydex S&P 500 Equal Weight Utilities ETF (AMEX:RYU) which is trading up by about 1.6% on the day Thursday.

See what other ETFs contain TEG
See what other stocks are held by RYU

TEG operates in the Electric Utilities sector, among companies like Avista Corp. (NYSE:AVA) which is up about 3% today, and PNM Resources Inc (NYSE:PNM) trading up by about 2.4%. Below is a three month price history chart comparing the stock performance of TEG, versus AVA and PNM.

TEG,AVA,PNM Relative Performance Chart


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