Enersis (ENI)
Company
Enersis es una de las principales multinacionales eléctrica privada de Latinoamérica, que posee participación directa e indirecta en el negocio de la generación, transmisión y distribución de la energía eléctrica y negocios afines, en cinco países: Argentina, Brasil, Chile, Colombia y Perú. (company website)
[rough translation] Enersis is one of the main multinational providers of electrical power in five South American countries: Argentina, Brazil, Chile, Colombia, and Peru.
Buy
19-Apr-05. Enersis has been rising steadily since last August (see sidebar). It recently broke above $9, and then pulled back for a few days. There have been nice volumes ever since leaving $8.50. While the trend (ADX) and price momentum (PPO) are leveling off, buying pressure (+DI), money flow (CMF), relative strength (RSI), and the stochastic RSI are all pointing up.
Sell
Bottom line-5%
28-Apr-05. Earnings for ENI's parent company were pretty good, but ENI got spanked anyway. It gapped lower to open today and soon headed for the 50-day moving average. In view of weaker economic data coming out and a generally bad day on the market, I decided to sell. ENI is below the previous peak, and I don't need any more bleeders.
