Cemex SAB de CV Stock Forecast
Cemex SAB de CV stock price down 1.22% on Thursday
(Updated on Apr 18, 2024)
The Cemex SAB de CV stock price fell by -1.22% on the last day (Thursday, 18th Apr 2024) from $8.18 to $8.08. During the last trading day the stock fluctuated 3.30% from a day low at $8.04 to a day high of $8.31. The price has fallen in 7 of the last 10 days and is down by -8.49% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately $79.17 million.
The stock has broken the wide and strong 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 $8.19. A reaction back to this level may hold a second chance to get out before further falls.
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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. On corrections up, there will be some resistance from the lines at $8.42 and $8.41. 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 -11.69%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 $0.265 between high and low, or 3.30%. For the last week, the stock has had daily average volatility of 3.55%.
Cemex SAB de CV is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cemex SAB de CV to open at $8.14, and during the day (based on 14 day Average True Range), to move between $7.84 and $8.32, which gives a possible trading interval of +/-$0.244 (+/-3.02%) 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 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.12 (0.50%) than the support at $7.98 (1.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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?
The Cemex SAB de CV stock holds several negative signals and despite the positive trend, we believe Cemex SAB de CV will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.874 Sell Candidate Unchanged
Predicted Opening Price for Cemex SAB de CV of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $8.14 ( 0.763%) | $8.08 |
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 | 8.41 | 4.04 % | |
| R2 | 8.31 | 2.79 % | ||
| R1 | 8.24 | 2.02 % | ||
| Current price: | 8.08 | |||
| Support | S1 | 8.04 | -0.490 % | |
| S2 | 7.98 | -1.26 % | ||
| S3 | 7.88 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.59 | 6.31 % | |
| R2 | 8.46 | 4.70 % | ||
| R1 | 8.12 | 0.495 % | ||
| Current price | 8.08 | |||
| Support | S1 | 7.98 | -1.24% | |
| S2 | 7.68 | -4.95% | ||
| S3 | 7.66 | -5.20% |
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
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