CX trade ideas
Cemex Possible Bull RunCemex 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: Interesting monthly and quarterly signals$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. Management efficiency has been high, when compared to the average of the past 5 years.
Fundamentals are solid, with a decent 5.9% earnings yield, 15% free cash flow yield, this company might be a great value play going forward.
Cheers,
Ivan Labrie.
CEMEX Long on momentum strengthLong CEMEX at 8.55 with a price target of 9.90 and a stop at 7.85. After posting surprisingly strong earnings in July price moved steadily above resistance at the ~8 level. Recently it seems to have confirmed a bounce off of this same ~8 level. I look for support in the same region with little resistance to the upside until ~10. R/R of 1.65/1. If you follow my 10000 USD base account recommendations I advise a 200 share long position.
