Today’s Market Runner: Is Selling All-time Stock Like Enel Generacion Chile SA (ADR) a Winning Strategy?

Today's Market Runner: Is Selling All time Stock Like Enel Generacion Chile SA (ADR) a Winning Strategy?

The stock of Enel Generacion Chile SA (ADR) (NYSE:EOCC) reached all time low today, Nov, 16 and still has $17.42 target or 8.00% below today’s $18.93 share price. This indicates more downside for the $5.31B company. This technical setup was reported by Barchart.com. If the $17.42 PT is reached, the company will be worth $424.80M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 30,956 shares traded hands. Enel Generacion Chile SA (ADR) (NYSE:EOCC) has declined 30.47% since April 14, 2016 and is downtrending. It has underperformed by 35.15% the S&P500.

According to Zacks Investment Research, “Empresa Nacional Electricidad SA, also known as Endesa, generates, distributes and sells electric energy in Chile.”

EOCC Company Profile

Empresa Nacional De Electricidad S.A., incorporated on January 17, 1944, is engaged in the business of electricity generation. The Firm operates in Chile. The Company’s primary facilities include power plants, transmission assets, pipelines, liquefied natural gas (LNG) terminals and re-gasification plants, storage and chartered LNG tankers.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment