Comp En De Mn Cemig ADS (CIG) : Traders are bullish on Comp En De Mn Cemig ADS (CIG) as it has outperformed the S&P 500 by a wide margin of 21.55% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.89%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.33% in the last 1 week, and is up 24.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Comp En De Mn Cemig ADS (NYSE:CIG): The stock opened at $3.02 on Friday but the bulls could not build on the opening and the stock topped out at $3.03 for the day. The stock traded down to $2.84 during the day, due to lack of any buying support eventually closed down at $2.89 with a loss of -2.03% for the day. The stock had closed at $2.95 on the previous day. The total traded volume was 9,427,368 shares.
The stock has recorded a 20-day Moving Average of 8.59% and the 50-Day Moving Average is 36.79%. Companhia Energetica de Minas Gerais S.A. is up 68.02% in the last 3-month period. Year-to-Date the stock performance stands at 108.89%.
Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms. Its electric power transmission business consists of transporting power from the facilities where it is generated to points of consumption, distribution networks and Free Consumers. Its distribution operation consists of transfers of electricity from distribution substations to final consumers. It is also engaged in telecommunications, national and international energy solutions consulting business, exploitation of natural gas, sale and trading of electricity, trading electricity, and acquisition, transport and distribution of gas and its sub products and derivatives.