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Watch for Continued Gains in Shares of Cemex SAB de CV (CX)

Published on Wed, 05/15/2013 - 14:26
By Robert Cotter

Shares of Cemex SAB de CV (NYSE:CX) traded at a new 52-week high today of $12.49. This new high was reached on approximately average trading volume as 16.7 million shares traded hands, while the average 30-day volume is approximately 14.4 million shares.

Cemex SAB de CV (NYSE:CX) defies analysts with a current price ($12.48) 0.4% above its average consensus price target of $12.43. The stock should find initial support at its 50-day moving average (MA) of $11.54 and further support at its 200-day MA of $9.45.

In the past 52 weeks, Cemex SAB de CV share prices have been bracketed by a low of $4.75 and a high of $12.49 and are now at $12.48, 163% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 0.8%.

Cemex SAB de C.V. produces, distributes, and markets cement, ready-mix concrete, aggregates, and clinker.

By Robert Cotter
rcotter@fnno.com