Price Action Report: Companhia Siderurgica Nacional (ADR)’s Trend Down, Especially After Today’s Weak Session

Price Action Report: Companhia Siderurgica Nacional (ADR)'s Trend Down, Especially After Today's Weak Session

The stock of Companhia Siderurgica Nacional (ADR) (NYSE:SID) is a huge mover today! About 4.88 million shares traded hands or 89.88% up from the average. Companhia Siderurgica Nacional (ADR) (NYSE:SID) has risen 0.62% since April 14, 2016 and is uptrending. It has underperformed by 4.07% the S&P500.
The move comes after 9 months negative chart setup for the $4.28B company. It was reported on Nov, 16 by Barchart.com. We have $2.92 PT which if reached, will make NYSE:SID worth $214.00 million less.

According to Zacks Investment Research, “CIA SIDERUR-ADR, through the combining of its own mines, steel mill, railroads, ports and service and distribution centers within the scope of its operations, makes them the largest integrated steel-making complex in Latin America. Leader of the Brazilian steel industry, the company has the capacity to produce 5 million tonnes a year of crude steel.”

SID Company Profile

Companhia Siderurgica Nacional, incorporated on April 9, 1941, operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Firm operates through five divisions: steel, mining, cement, logistics and energy. The Company’s steel sales are focused on the domestic market.

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