CX hasn't been up to the expectations this year but is still a pretty solid company on a still developing market. It's also about to hit oversell point. Stock price should go up soon, at least until next E day.
Recent positive reaction to earnings has created volatility and a nice consolidation range
Looking to buy near 7.40 support or short if it can't hold
Looking to buy the breakout if it bounces and pushes through the 7.50s
Cemex CX may make a run and break downtrend line. Popped up today and broke out of bear flag. If this doesn't break downtrend and push higher this is a no go. Now using 20 day MA as support. Pivots are quite compact on this market. Will look at run to R3, then make a decision what to do from there.
$CX is an interesting company here. I have liked the negativity surrounding Mexico, and emerging markets since Trump got elected, now we have a solid breakout on strong volume, and a potential monthly and even quarterly uptrend taking off from here.
$CX has had strong growth in the past quarter and year, I think it can be a solid performer going forward....