The new trend is hereCemex broke the downtrend line that began in June 2021 and has already made 2 higher lows. Interesting risk reward ratio to take into account.
Cemex
Cemex ShortNecesitara mucha fuerza para romper semejante resistencia.
Atentos, posible short en puerta.
#Cemex #CX - Long PositionCemex 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!
CEMEX CPO Podría encontrar soporte (Oct 2011-Ene 2016-Mzo 2019)A pesar de los resultados de Q4 2018 que refuerzan mantenerse en canal bajista, no debemos dejar a un lado que pudiera estar llegando a un soporte importante (Oct 2011). Estaré atento en el desarrollo del técnico en los siguientes dias.
