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Cia Energetica de Minas Gerais: New 52-Week Low Set Today (CIG)

Published on Fri, 06/07/2013 - 14:21
By Peter Chu

Shares of Cia Energetica de Minas Gerais (NYSE:CIG) traded at a new 52-week low today of $9.82. So far today approximately 2.7 million shares have been exchanged, as compared to an average 30-day volume of 2.6 million shares.

In the past 52 weeks, shares of Cia Energetica de Minas Gerais have traded between the current low of $9.82 and a high of $19.97 and are now at $9.85. The 200-day and 50-day moving averages have moved 1.49% lower and 0.67% lower over the past week, respectively.

Companhia Energetica de Minas Gerais- CEMIG generates, transmits, and distributes electricity in the Brazilian State of Minas Gerais. Cemig serves industrial, commercial, residential, and rural customers. The Company generates electricity primarily through hydroelectric plants.

Potential upside of 39.6% exists for Cia Energetica de Minas Gerais, based on a current level of $9.85 and analysts' average consensus price target of $13.75. The stock should find initial resistance at its 50-day moving average (MA) of $11.45 and further resistance at its 200-day MA of $12.25.

By Peter Chu
pchu@fnno.com

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