Cia Energetica de Minas Gerais (NYSE:CIG) shares have crossed bullishly above their 10-day moving average of $11.75 on a volume of 1.3 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Cia Energetica de Minas Gerais has traded in a range of $10.56 to $20.97 and is now at $11.88, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cia Energetica de Minas Gerais on August 30th, 2012 by issuing a Downtrend alert when the shares were trading at $18.08. Since that call, shares of Cia Energetica de Minas Gerais have fallen 37.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.