Cemex SAB de CV Stock Forecast
Stronger technical forecast for Cemex SAB de CV stock price after Friday trading.
(Updated on Apr 19, 2024)
The Cemex SAB de CV stock price fell by -1.11% on the last day (Friday, 19th Apr 2024) from $8.08 to $7.99. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.00% from a day low at $7.84 to a day high of $8.08. The price has fallen in 7 of the last 10 days and is down by -9.2% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 6 million shares were bought and sold for approximately $48.74 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $8.13. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CX Signals & Forecast
There are few to no technical positive signals at the moment. The Cemex SAB de CV stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.34 and $8.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -12.68%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cemex SAB de CV stock
Cemex SAB de CV finds support from accumulated volume at $7.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.235 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 3.63%.
Cemex SAB de CV is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $7.46 (-6.60%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (CX) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cemex SAB de CV to open at $7.97, and during the day (based on 14 day Average True Range), to move between $7.75 and $8.23, which gives a possible trading interval of +/-$0.244 (+/-3.05%) up or down from last closing price. If Cemex SAB de CV takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.98 (0.13%) than the resistance at $8.12 (1.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Cemex SAB de CV will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Cemex SAB de CV, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.12% in the first trading day after earnings release.
Is Cemex SAB de CV stock A Buy?
Cemex SAB de CV holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.786 Hold/Accumulate Upgraded
Predicted Opening Price for Cemex SAB de CV of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $7.97 ( 0.271%) | $7.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.20 | 2.67 % | |
| R2 | 8.11 | 1.55 % | ||
| R1 | 8.06 | 0.85 % | ||
| Current price: | 7.99 | |||
| Support | S1 | 7.88 | -1.39 % | |
| S2 | 7.82 | -2.09 % | ||
| S3 | 7.73 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.59 | 7.51 % | |
| R2 | 8.46 | 5.88 % | ||
| R1 | 8.12 | 1.63 % | ||
| Current price | 7.99 | |||
| Support | S1 | 7.98 | -0.125% | |
| S2 | 7.68 | -3.88% | ||
| S3 | 7.66 | -4.13% |
CX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2019 | Dec 13, 2019 | Dec 18, 2019 | $0.0500 | 1.29% |
| 2 | May 06, 2008 | May 06, 2008 | May 06, 2008 | $0.635 | 3.10% |
| 3 | May 08, 2007 | May 08, 2007 | May 08, 2007 | $0.566 | 2.46% |
| 4 | May 05, 2006 | May 05, 2006 | May 05, 2006 | $0.505 | 2.13% |
| 5 | May 06, 2005 | May 06, 2005 | May 06, 2005 | $0.447 | 3.53% |
FAQ
Click here for our free guide on how to buy Cemex SAB de CV Stock.
