CEMEX/CPO - Buying Opportunity.
TF analysis: 4H.
According to technical analysis, we can observe that we are in an uptrend channel, in which the price is gaining greater inclination by making higher lows. The projection of the possible upward movement is located up to the upper end of the channel.
When visualizing the market and conducting technical analysis, it is crucial to interpret different timeframes.
Multi-timeframe analysis can enhance the probability of success in our trading by utilizing support and resistance levels from higher timeframes than our base timeframe.
It is also useful for identifying candlestick patterns in other timeframes and...
in the last 2 cycles during the last year. every time we lost $2.40 from the peak. Today the peak is 5.44 so the next price $3.04, I think CX is going to start buying back in the price of 2.60 to $ 3.00
Well, CX went down more than 20%, Could it be a good time to start buying???. The target price is $ 11.50 in one year. that means almost 90% profit.
It will work if we do not have a crash the following days. Remember October 19, 1987.
July 29,2021 CX is going to present the Q2 earning report but we have headwinds inflation that is real, china issues , etc. That means CX should go below 8 today and tomorrow time to buy then sell on july 29 then it will go down again
