• Home
  • About Us
  • Authors
  • Contact Us
  • Privacy Policy
  • Accessibility
  • Terms of Use
facebook
lastfm
linkedin
tumblr
pinterest
  • Sports
  • Entertainment
  • Automotive
  • Technology
  • Fashion and Lifestyle
  • World
  • Featured
  • Investment
BREAKING NEWS
Altria Group Inc.’s (NYSE:MO) latest developments
Exxon Mobil Corporation’s (NYSE:XOM) Latest Developments
Cadence Design Systems Inc.’s (NASDAQ:CDNS) Latest Developments
Cameron International Corporation(NYSE:CAM) cuts down its yearly estimates over increase in “Other” charges.
Halliburton Company (NYSE: HAL) accepts tinkering with evidence in the Gulf of Mexico fiasco
Facebook Inc., (NASDAQ:FB) scope in mobile advertising
Expedia Inc., (NASDAQ:EXPE) has a gloomy outlook after posting a disappointing quarter earnings.
The Clorox Co., (NYSE:CLX) sues Mexican company for copyright infringement
Activision Blizzard Inc., (NASDAQ:ATVI) moves to become an independent company once again
Zynga Inc., (NASDAQ: ZNGA) Shares Dip After It Announces Its Quarter Earnings

$11-$12 Range Breakout Will Be Trend Decider For Cemex SAB de CV (ADR) (NYSE: CX)

Posted On 26 Jul 2013
By : Jake Emen
Comment: 0
Tag: Cemex SAB de CV (ADR) (NYSE: CX), NYSE:CX

Denver, CO, 07/26/2013 (Avauncer.com)  –  Cemex SAB de CV (ADR) (NYSE: CX) (Closed: $11.61, Up: 2.20%) ended the last session on a positive note with volume at 18.5 million, a bit higher than the average of 14.5 million but the structure remains a bit of concern for the bulls. The July part of the rally is looking like a Rising Wedge more and more and unless the price manages to breach and sustain above $11.90 - $12 in the next few sessions, the stock runs the risk of weakening. The high of the day at $11.80 was made exactly on the upper trendline of the wedge.

The stock had a steep fall in the bear market of 2007 – 2008, when it lost over 90% of its value to reach $4 from $41. After a bounce to $14.58 in 2009, the stock dropped to $2.27 by October 2011 to make a new low. From that bottom the price managed to rise to the old supply zone of $12.60 - $12.70 so far and corrected from there. This rally from the 2011 bottom contains two corrections of very similar degree, which implies that the last major swing low holding, another high remains on the cards before any major fall.

The first correction was from the February 2012 top of $8.67 to the June 2012 bottom of $4.94, or of 3.73 points. The second one was from the April 2013 top of $12.71 to the June 2013 low of $9.13, or of 3.58 points. The low of the second correction has not touched the February 2012 top. All this signifies that the bulls can still get a new high above $12.71 if they can protect $9.13 or at worst, $8.67.

In the short term, if price breaks below $11.18 -$11.28, then a fall to $10.17 - $10.34 or even lower is possible. Holding that, bulls may take the price higher with the supporting indicators.

About the Author
Jake Emen is a writer residing in Houston, Texas. He has written numerous articles, some for the Washington Post, USA Today, the LA Times, and the Houston Chronicle. One of AC s Top 100 Content Producers, Carly Hart s interests include news, politics, parenting, frugal living and consumer related issues. He acted as a customer advocate and has extensive experience working on Wall Street. As a highly acclaimed industry leader, he has been a catalyst for public education and accessability of financial services.
  • google-share
Previous Story

PulteGroup, Inc. (NYSE: PHM) May Reach $14 - $15 Soon

Next Story

Potash Corp. /Saskatchewan (USA) (NYSE: POT) Must Stay Above $37.60 For The Bulls

Leave a Reply Cancel reply

*
*

RECENT

POPULAR

COMMENTS

Altria Group Inc.’s (NYSE:MO) latest developments

Posted On 29 Jul 2013

Exxon Mobil Corporation’s (NYSE:XOM) Latest Developments

Posted On 29 Jul 2013

Cadence Design Systems Inc.’s (NASDAQ:CDNS) Latest Developments

Posted On 29 Jul 2013

Cameron International Corporation(NYSE:CAM) cuts down its yearly estimates over increase in “Other” charges.

Posted On 29 Jul 2013

Halliburton Company (NYSE: HAL) accepts tinkering with evidence in the Gulf of Mexico fiasco

Posted On 29 Jul 2013

Apple trying to clam the competition with WiFiSLAM

Posted On 25 Mar 2013

AstraZeneca plc (NYSE:AZN) narrows research and downsizes workforce

Posted On 22 Mar 2013

Arena Pharmaceuticals, Inc (NASDAQ:ARNA) enters the anti-obesity arena with Belvig

Posted On 22 Mar 2013

Optos Plc (LON:OPTS) optimistic despite lower Daytona sales

Posted On 21 Mar 2013

JPMorgan Chase & Co (NYSE:JPM) shells out $100 million to MF Global

Posted On 21 Mar 2013
Copyright 2013 Avauncer Inc. All Right Reserved. Powered by Avauncer Media.