Notable Runner: Is Selling Enel Chile SA – ADR Here a Winning Strategy?

Notable Runner: Is Selling Enel Chile SA   ADR Here a Winning Strategy?

The stock of Enel Chile SA – ADR (NYSE:ENIC) reached all time low today, Nov, 16 and still has $4.32 target or 5.00% below today’s $4.55 share price. This indicates more downside for the $4.59B company. This technical setup was reported by Barchart.com. If the $4.32 PT is reached, the company will be worth $229.50 million 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 55,964 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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