As published in a research note from HSBC Securities on January 10, 2025, Cia Energetica DE Minas Gerais – Cemig ADR [CIG] has been rated down from a Buy to a Hold. Analysts at Scotiabank started covering the stock with ‘”a Sector perform”‘ outlook in a report released in late October. As of November 24, 2023, BofA Securities has decreased its “Buy” rating to a “Neutral” for CIG. Earlier on November 01, 2023, HSBC Securities upgraded its rating. Their new recommendation was “a Buy” for CIG stock which previously was a “a Hold”.
Analyzing CIG Stock Performance
During the last five days, there has been a surge of approximately 1.08%. Over the course of the year, Cia Energetica DE Minas Gerais – Cemig ADR shares have jumped approximately 6.21%. Shares of the company reached a 52-week high of $1.9300 on 02/05/25 and a 52-week low of $1.6900 on 01/17/25. A 50-day SMA is recorded $1.8452, while a 200-day SMA reached $1.9340. Nevertheless, trading volume fell to 1.43 million shares from 1.67 million shares the previous day.
Support And Resistance Levels for Cia Energetica DE Minas Gerais – Cemig ADR (CIG)
According to the 24-hour chart, there is a support level at 1.8667, which, if violated, would cause prices to drop to 1.8533. In the upper region, resistance lies at 1.8967. The next price resistance is at 1.9133. RSI (Relative Strength Index) is 56.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0648, which suggests the price will decrease in the coming days. Percent R is at 20.83%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
