Exclusive: Could Companhia Siderurgica Nacional (ADR) Go Down After Achieving 52-Week High?

Exclusive: Could Companhia Siderurgica Nacional (ADR) Go Down After Achieving 52 Week High?

The stock of Companhia Siderurgica Nacional (ADR) (NYSE:SID) hit a new 52-week high and has $4.18 target or 7.00% above today’s $3.91 share price. The 9 months bullish chart indicates low risk for the $5.44 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $4.18 price target is reached, the company will be worth $380.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 4.27% or $0.16 on November 28, hitting $3.91. About 3.92M shares traded hands or 33.33% up from the average. Companhia Siderurgica Nacional (ADR) (NYSE:SID) has risen 10.62% since April 25, 2016 and is uptrending. It has outperformed by 4.61% the S&P500.

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.”

Another recent and important Companhia Siderurgica Nacional (ADR) (NYSE:SID) news was published by Quotes.Wsj.com which published an article titled: “DOW JONES, A NEWS CORP COMPANY” on February 12, 2011.

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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