Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms. Its electric power transmission business consists of transporting power from the facilities where it is generated to points of consumption, distribution networks and Free Consumers. Its distribution operation consists of transfers of electricity from distribution substations to final consumers. It is also engaged in telecommunications, national and international energy solutions consulting business, exploitation of natural gas, sale and trading of electricity, trading electricity, and acquisition, transport and distribution of gas and its sub products and derivatives.
Ah another Brazilian stock They have been some of my best swings this year. If CIG should retest at or near 1.90, I might give it a run. I always like to look at the fundamentals even on a swing trade and they look decent for CIG. The earnings announcement is supposed to be on May 23rd so there is enough time to get in and out without added risk This company's Operating Profit Margin is in-line with the average and is efficient as the industry at generating profits from its day-to-day operations. The company's Net Profit Margin is above average. Return on equity for 2015 was 23.49% and some other positive notes. Your good RG at digging up these potential profit makers with a Latin flavor
Two levels to watch: 1,70 (where I will try to get some), and lower around 1,50. Hopefully price wont go til second level, that could also mean some sign of weakness.
No offense Chris but you don't understand the way I trade. If you look at what I posted that was a 1st tier buy. Volatile stocks like CIG, I buy in tiers and I am already looking at 1.65 where it bounced from the last time. If it goes up instead of down, I may make my next buy at a higher price leveraged from my earlier buy.. My style is not for everyone but it works for me most of the time.
No offense taken. I know you know what you're doing, just trying to create some discussion while pointing out any observations. Good luck!
Good your a nice guy! I did leave out that I already took profits on CIG that gives me a deeper pocket if the trade sours. Other than the broader markets being down today, The Real was down as well that always puts pressure on the Brazilian stocks. Mix that cocktail and it usually brings good buying ops.
I have been playing CID for awhile and Iam currently upside down. My last tier buy near the low and it possible it is the start of a trend as my other Brazilian plays are doing the same (BBD ELP and SID) In the last two days it has went a low of 1.41 to to a high of 1.56. Looks like a gap to fill in the mid 1.60's. This is a high risk play so ease into the play if you decide to take the risk because of what is going on in Brazil
