The Chart of the Day belongs to Edenor (EDN) – Empresa Distribuidora y Comercialzadora Norte. I found the Argentine electric utility by using Barchart to sort today’s Top Stocks to Own list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation.Since the Trend Spotter signaled a buy on 12/7 the stock gained 30.94%.

Edenor is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km.

Barchart’s Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 126.50+ Weighted Alpha
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 27.52% in the last month
  • Relative Strength Index 86.44%
  • Technical support level at 61.91
  • Recently traded at 62.55 with a 50 day moving average of 49.71

    • Fundamental factors:

  • Market Cap $2.76 billion
  • Revenue expected to grow 60.50% this year and another 25.20% next year
  • Earnings estimated to increase 154.50% this year, an additional 288.70% next year and continue to compound at an annual rate of 53.00% for the next 5 years
  • Wall Street analysts issued 3 buy and 1 hold recommendation on the stock
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