Utilities Sector finished strong last week, and if momentum continues look at CIG closely for long play over the upper channel trend line.
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Black friday wont last forever. This company is getting really hurt by political issues in Brazil. But the price atm is ridiculous. Buy and have patience, at least 1 year investment.
Resistance at 2.76 zone. Old resistance but new support? . Low Volume until now, but apparently increasing. Definition zone. Stan Weisntein invest point. Long in CIG. will see. It's my opinion. I'm inside this train, it's only a matter of patience. Electricity is FUTURE.
"The stock market is a device for transferring money from the impatient to the patient." --...
CIG has been very cyclical lately, and has been reliably bouncing off of this trend line and bouncing dramatically. I think there is a high likelihood that it will continue this trend and pattern. That means that I should have a fantastic entry point soon.
Weekly chart. Again, critical zone this week. Reaching this trend line. Strong support in my opinion on the 3 price zone. Will see soon. It could taste the 2,75 zone.
