CIA ENERGETICA DE-SPON ADR (CIG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CIG - US2044096012 - ADR
We assign a technical rating of 2 out of 10 to CIG. CIG has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- In the last month CIG has a been trading in the 1.95 - 2.09 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- CIG has an average volume of 3080830 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
- When compared to the yearly performance of all other stocks, CIG outperforms 59% of them, which is more or less in line with the market.
- CIG is part of the Electric Utilities industry. There are 46 other stocks in this industry, CIG did better than 57% of them.
- CIG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CIG is lagging the market.
Although the technical rating is bad, CIG does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 1.97, a Stop Loss order could be placed below this zone.
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1.67
When analyzing the support we can see 3 important areas.
- A support zone ranging from 1.95 to 1.97. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @1.86 from a horizontal line in the daily time frame.
- Support @1.69 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 2.00 to 2.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 2.18 to 2.19. This zone is formed by a combination of multiple trend lines in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for CIG is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CIG is down. |
| ChartMill Relative Strength | 59.53 | NEUTRAL | CIG is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CIG is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CIG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CIG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 44.94 | NEUTRAL | The RSI value for CIG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CIG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 19.05 | OVERSOLD | The low Stochastics value suggests CIG may be oversold. |
| Average True Range in percent/ATR (20) | 2.1 | MEDIUM VOLATILITY | The ATR as a percentage value for CIG suggests some volalility. |
| Average Directional Index/ADX (14) | 8.06 | NEGATIVE | The low ADX value for CIG suggests a weak or negative trend. |
1.98
0 (0%)
CIA ENERGETICA DE-SPON ADR / CIG FAQ
What is the ChartMill technical rating of CIA ENERGETICA DE-SPON ADR (CIG) stock?
ChartMill assigns a technical rating of 2 / 10 to CIG.
Can you provide the trend direction for CIA ENERGETICA DE-SPON ADR?
The current trend direction for CIA ENERGETICA DE-SPON ADR (CIG) is Bearish.
What is the RSI signal for CIA ENERGETICA DE-SPON ADR (CIG) stock?
CIA ENERGETICA DE-SPON ADR (CIG) has an RSI value of 44.9388. This indicates that the stock is currently neutral.
What is the short term momentum for CIG stock?
The short term momentum for CIA ENERGETICA DE-SPON ADR (CIG) is negative.
Can you provide the support and resistance levels for CIA ENERGETICA DE-SPON ADR?
CIA ENERGETICA DE-SPON ADR (CIG) has a support level at 1.97 and a resistance level at 2. Check the full technical report for our detailed analysis of CIG support and resistance levels.