Could Enel Chile S.A. (ENIC) Gain Strenght? The Stock Reaches All-Time Low

The stock of Enel Chile S.A. (NYSE:ENIC) reached all time low today, Aug, 15 and still has $3.78 target or 8.00 % below today’s $4.11 share price. This indicates more downside for the $5.70 billion company. This technical setup was reported by Barchart.com. If the $3.78 PT is reached, the company will be worth $456.00 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.

The stock decreased 0.96% or $0.04 during the last trading session, reaching $4.11. About 135,571 shares traded. Enel Chile S.A. (NYSE:ENIC) has declined 11.54% since August 15, 2018 and is downtrending. It has underperformed by 11.54% the S&P500.

More notable recent Enel Chile S.A. (NYSE:ENIC) news were published by: Prnewswire.com which released: “Enel Chile Announces The Filing Of The 2018 Annual Report On Form 20-F – PRNewswire” on April 30, 2019, also Seekingalpha.com with their article: “Chile Macro Update May 2019: Softer Growth Weighing On Equities – Seeking Alpha” published on May 24, 2019, Finance.Yahoo.com published: “Hedge Funds Have Never Been This Bullish On Voya Financial Inc (VOYA) – Yahoo Finance” on June 10, 2019. More interesting news about Enel Chile S.A. (NYSE:ENIC) were released by: Benzinga.com and their article: “Best Utility Stocks – Benzinga” published on April 06, 2019 as well as Prnewswire.com‘s news article titled: “Enel Chile Announces Results Of Tender Offers For Enel Generación Shares And ADSs And Satisfaction Of Conditions Of The Reorganization – PR Newswire” with publication date: March 26, 2018.

Enel Chile S.A., an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company has market cap of $5.70 billion. The firm operates through Generation Business and Distribution Business divisions. It has a 10.28 P/E ratio. It transmits and distributes electricity in 33 municipalities of the Santiago metropolitan region.

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