Cemex has bullish signals on 1D, 1W as well as 1M TF.
MFI is currently at 15 which is an all-time-low on the 1M TF. RSI is at 31 which is near the RSI support zone (29-23) of last few years. When you have a closer look on the MACD (zoom in) you can see a W-formation in the MACD histogram which will lead to a bullish MACD cross soon. A bullish cross will also form on the WaveTrend oscillator on the monthly TF soon. Bullish momentum on StochRSI will build up and the next bullish cycle will start.
Price could raise to 0.236 Fib resistance which is near $10. SL can be placed slightly below the all-time low (below $1.79). With entry @$3.40, TP@$9.69 and SL@ $1.69 R:R is 3.68.
At least a reversion to the mean can be expected (to about $7).
WARNING: I´m not a financial advisor. For educational purpose only!
İşlem aktif
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My entry: $3.21 (I should have bought more below $3.- but now it´s too late)
İşlem elle kapatılmış
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I took profit at $3.98 today which is a 24% profit! I´m waiting for a re-entry between $3.30 - 3.10.-
Cemex announced buyback your prospect was too early but correct none the less
PatMoar
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@Amaiii_, thanks for the information. Do you know when they will start buying back?
I´m still not in this trade, but I´ll enter soon at around $3 or slightly below for a better R:R ratio.