Notable Price Action: A Reversal for Enel Chile SA – ADR Is Not Near. The Stock Reaches 52 Week Low Today

Notable Price Action: A Reversal for Enel Chile SA   ADR Is Not Near. The Stock Reaches 52 Week Low Today

The stock of Enel Chile SA – ADR (NYSE:ENIC) hit a new 52-week low and has $4.20 target or 8.00% below today’s $4.56 share price. The 8 months bearish chart indicates high risk for the $4.61 billion company. The 1-year low was reported on Nov, 16 by Barchart.com. If the $4.20 price target is reached, the company will be worth $368.80M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 43,724 shares traded hands. Enel Chile SA – ADR (NYSE:ENIC) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

According to Zacks Investment Research, “Enersis Chile S.A. is involved in the generation and distribution of electricity in Chile. The Company’s thermal electric generation facilities use liquefied natural gas, coal and diesel. Enersis Chile S.A. is headquartered in Santiago, Chile.”

More recent Enel Chile SA – ADR (NYSE:ENIC) news were published by: Marketwatch.com which released: “Enel Chile SA ADR” on May 02, 2016. Also Moodys.com published the news titled: “No immediate rating implications for Endesa Chile and Enersis from ENEL’s …” on April 29, 2015. Prnewswire.com‘s news article titled: “Enersis Chile Announces Spin-off By Enersis Américas Of Enersis Chile” with publication date: April 05, 2016 was also an interesting one.

ENIC Company Profile

Enersis Chile S.A. is engaged in the generation and distribution of electricity in Chile. The Company’s operating divisions are Generation and Distribution. The Firm has approximately 6,350 megawatt (MW) of installed capacity. The Firm owns and operates over 110 generation units through Endesa Chile, Pehuenche, Celta and GasAtacama. Of these generation units, approximately 40 are hydroelectric, with a total installed capacity of over 3,450 MW. The Firm has over 20 thermal generation units that operate with gas, coal or oil with an installed capacity of approximately 2,810 MW. The Firm has over 50 wind powered generation units with an installed capacity of approximately 90 MW capacity.

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