Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company engaged in the energy sector. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the generation, transmission and distribution of electricity. The Generation division consists of the operation of hydroelectric plants, wind farms and...
Ascending Triangle, not confirmed just yet for CIG.
Will have to pierce through the 2.75$ resistance with volume to confirm.
Watching.
If confirmed:
Price target = 4.44$
Stay humble, have fun, make money!
Companhia Energetica de Minas Gerais, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of energy in Brazil. The company operates 89 hydroelectric and solar plants with an installed capacity of 6K MW; 339K miles of distribution lines.
Revenue TTM 4.6B
Net Income TTM 596M
EBITDA TTM 991M
Cash TTM 592M
Net Margin TTM...
NYSE:CIG is flagging and showing bullish signs ahead of earnings, any miss in earnings on Monday could send the stock back to around 2.1$ which will be a good opportunity to buy IMO otherwise a breakout of the flag on Monday after earnings is buy signal. Anticipated price action and targets are shown on the chart, stop loss at 2.0$.
Hit the like button please if...
Cia Energetica Minas Gerais-Cemig, through its subsidiaries, participates in the generation, transmission, distribution and sale of energy in Brazil. As of December 31, 2019, the company operated 80 hydroelectric, thermoelectric and wind and solar plants with an installed capacity of 6,000 MW; 4,134 km transmission lines; and 335,421 km of distribution...
Still no definite wave count. W view is starting to look like it's making a bigger correction to go down, but it appears that it's going to give a few buying setups before a clear long term direction is given. smaller degree looks like a ending diag that's complete and we might be going up to attack the previous highs within the range.
Or could be correcting the...
NYSE:CIG has some nice wave structure going on. The 1st Impulse 1/A wave took the form of a diagonal. Now we're trading withing a slowly descending channel that looks like the upside will come (if not on this current move up, soon) What are your thoughts on this company? I'd love to hear some input!
Thanks for looking, and trade responsibly! Always remember YOU...
Utilities Sector finished strong last week, and if momentum continues look at CIG closely for long play over the upper channel trend line.
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