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Cemex SAB de CV Trading Higher on 1.5x Above-Average Volume (CX)

Published on Tue, 01/22/2013 - 14:13
By Mallory Stone

The price of Cemex SAB de CV shares has climbed to $10.38 (a 0.5% change) on heavy trading volume. About 17.2 million shares have been traded today, as compared to the 30-day average volume of 11.5 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

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

Cemex SAB de CV has overhead space with shares priced $10.38, or 5.7% below the average consensus analyst price target of $11.01. The stock should discover initial support at its 50-day moving average (MA) of $9.47 and subsequent support at its 200-day MA of $7.78.

Cemex SAB de CV share prices have moved between a 52-week high of $10.74 and a 52-week low of $4.94 and are now trading 110% above that low price at $10.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.8%.

By Mallory Stone
mstone@fnno.com