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A worker walks past a cement trailer-truck at the Hidalgo cement plant, where Cemex was founded in 1906, in the town of Hidalgo, on the outskirts of Monterrey. (TOMAS BRAVO/REUTERS)
A worker walks past a cement trailer-truck at the Hidalgo cement plant, where Cemex was founded in 1906, in the town of Hidalgo, on the outskirts of Monterrey. (TOMAS BRAVO/REUTERS)

What the Charts Say

Bullish on Cemex Add to ...

Cemex has been trading above a rising trend-line for more than two years (dashed line) and has a rising 40-week moving average (40wMA). It stayed in a minor trading range mostly between $10 (U.S.) and $12.50 in 2013 (dotted lines). The stock recently pierced above the top of this range to signal the resumption of the up-trend (A). Only a decline below the rising trend-line near about $11.50 would be negative.

Point & Figure measurements provide targets of $15 and $17 (15.6-per-cent and 40-per-cent appreciation potentials from current levels). Higher targets are visible.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow us on Twitter: @Monicarizk1, @RonsBriefs

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