Like I have said in many of threads look for stocks holding strong during down markets. If they are up and check the volume to see how strong the strength is
Mexico Cemex's profit jumps, aided by U.S., Mexico sales growth The company said net profit rose to $205 million, almost double analysts' estimate of $107 million in a Reuters poll. The company also raised its debt reduction and asset sale targets. Consolidated net sales rose 6 percent to $3.7 billion on a like-to-like basis for ongoing operations and adjusting for currency movements, the company said. U.S. net sales rose 3 percent to $1.04 billion, and in Mexico, they rose 7 percent to $796 million. Shares in Cemex are up more than 40 percent this year, boosted by hopes of stronger growth in its United States, its biggest market. Mexico's peso lost almost 6 percent of its value http://finance.yahoo.com/news/mexican-cement-producer-cemexs-profit-104814810.html
As I was up 33%, a Friday and overbought I decided to take my profits. There is a good chance that CX will go higher but you never know when a melt down will pop up. I sold 10 minutes from the close for 1 cent under the HOD
Weekly chart inverse head and shoulders pattern. Measured move of head to neckline was around 3pts. The 3 year auction (POC) is back around $9.50. Summary: Weak longs were swiftly panicked out of this stock in 2015. A new auction was trying to form at the HVN (high volume node), but at this stage the buying has been too strong and shorts continue to unwind their positions trying to lock in whatever little is left. A continued reversion back to the POC is likely.
Thanks @FastEddy ! It appears I took my profits at the right time. It could have went the other way if the market had rallied instead of dropping. Still like the stock and may re-enter if the price is right
Any idea what the two spikes were all about in after hours? Probably on small volume, just curious if you knew if something was going on?
I not sure what the spikes were all about but they were small trades as CX did have a good AH close on 210,280 shares traded. Good call activity from last week as well. OptionMonster's market scanner shows that 11,600 November 7 calls were purchased for $0.54 to $0.67 on Friday. This represents fresh buying, as open interest in the strike was just 132 contracts before the trades appeared. http://www.optionmonster.com/news/article.php?page=is_cemex_going_higher_this_week_117222.html
Analyst Upgrade/Downgrade Update Brokerage firm: HSBC Securities Change: Upgrade Previous Rating: Hold Current Rating: Buy Previous Price Target: N/A Current Price Target: N/A
Good move @FastEddy CEMEX to Digitally Transform its Customers' Experience in Collaboration with IBM MONTERREY, Mexico and ARMONK, N.Y., Nov. 17, 2016 /PRNewswire/ -- CEMEX (CX), one of the leading building materials companies in the world, and IBM (NYSE: IBM), today announced that CEMEX will undertake a sweeping digital transformation designed to improve its operations, substantially improve its customer experience and increase business efficiencies. Read More: http://finance.yahoo.com/news/cemex-digitally-transform-customers-experience-110000110.html
Fridays drop took away the gains from Thursday. There is high short interest on CX and the slightest sneeze can move the stock in either direction. Still in my tier buying mode One reason I took a chance on this stock is if the Trump Wall is built it is North America's largest concrete supplier and is near the border of Texas & Mexico. Grupo Cementos de Chihuahua, S.A.B. de C.V. for approximately U.S.$306 mln (CX) : The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The assets sold by an affiliate of CEMEX in the U.S. to an affiliate of GCC in the U.S. consist of CEMEX's cement plant in Odessa, Texas, two cement terminals and the building materials business in El Paso, Texas and Las Cruces, New Mexico. http://finance.yahoo.com/news/inplay-briefing-com-055139997.html#cx
