Trading Enersis SA through ADRs
Hugo O'Neill | Mar 16, 2015 05:32AM ET
Enersis S A (NYSE:ENI) is a private electricity company in Latin America. The Company engages in the generation, transmission and distribution of electricity in Chile, Argentina, Brazil, Colombia and Peru. Enersis, through its main subsidiaries, operates power plants and distribution systems, offers ICT and TLC consulting services, and is committed to the real-estate business.
Enersis presented its 2014 Yearly results on the 30th of January this year showing a 2% Grow on EBITDA and good diversification of technologies and geographies delivered solid results, generating 387,000 new clients in Distribution plus an average electricity demand growth of more than 3%.
Since the start of the Year the Enersis stock has been trading sideways with in a consolidation range from a high of 16.45 to a low of 15.06. The stock open with a gap down that was closed at the end of the day and traded more than 2 times its average this past Friday. Expecting upward move to a daily key level at 16.45 on a break above the 10 and 50 day moving average at 15.86 (scenario 1).
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