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Cemex SAB de CV's Shares Changing Hands at Higher Prices on 1.6x Above-Average Volume (CX)

Published on Thu, 02/14/2013 - 14:13
By Peter Chu

Shares of Cemex SAB de CV are trading up 2.5% to $10.94 today on above average volume. Today's volume of 23.0 million shares tops the average 30-day volume of 14.1 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Over the past year, Cemex SAB de CV has traded in a range of $4.94 to $11.20 and is now at $10.94, 121% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.6%.

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

Cemex SAB de CV (NYSE:CX) has potential upside of 10.9% based on a current price of $10.94 and analysts' consensus price target of $12.13. The stock should discover initial support at its 50-day moving average (MA) of $10.09 and subsequent support at its 200-day MA of $8.09.

By Peter Chu