A Reversal for Companhia Paranaense de Energia – COPEL (ELP) Is Not Near. The Stock Reaches Yearly Low Today

July 16, 2018 - By Robert Shackelford

Companhia Paranaense de Energia - COPEL (NYSE:ELP) Logo

The stock of Companhia Paranaense de Energia – COPEL (NYSE:ELP) hit a new 52-week low and has $4.98 target or 7.00 % below today’s $5.36 share price. The 5 months bearish chart indicates high risk for the $1.39B company. The 1-year low was reported on Jul, 16 by Barchart.com. If the $4.98 price target is reached, the company will be worth $96.95M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.55% or $0.14 during the last trading session, reaching $5.36. About 229,206 shares traded. Companhia Paranaense de Energia – COPEL (NYSE:ELP) has declined 17.41% since July 16, 2017 and is downtrending. It has underperformed by 29.98% the S&P500.

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other clients primarily in the State of Paraná, Brazil. The company has market cap of $1.39 billion. As of December 31, 2016, the firm operated 18 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,025.7 megawatts; and owned and operated 2,522 kilometers of transmission lines and 195,458.5 kilometers of distribution lines. It has a 5.83 P/E ratio. It holds concessions to distribute electricity in 394 municipalities in the State of Paraná and in the municipality of Porto União in the State of Santa Catarina.

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