Does CEMEX, S.A.B. de C.V. (CX) Have Any Gas After Forming This Double Bottom Chart Pattern?

February 15, 2018 - By Adrian Mccoy

The chart of CEMEX, S.A.B. de C.V. (CX) shows a double bottom with $6.90 target or 8.00 % below today’s $7.50 share price. The 8 months chart pattern indicates high risk for the $11.80 billion company. It was reported on Feb, 15 by If the $6.90 price target is reached, the company will be worth $943.92M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.57% or $0.12 during the last trading session, reaching $7.5. About 6.28M shares traded. CEMEX, S.A.B. de C.V. (NYSE:CX) has risen 38.50% since February 15, 2017 and is uptrending. It has outperformed by 21.80% the S&P500.

CEMEX, S.A.B. de C.V. (NYSE:CX) Ratings Coverage

Among 16 analysts covering CEMEX S.A.B. de C.V. (NYSE:CX), 10 have Buy rating, 0 Sell and 6 Hold. Therefore 63% are positive. CEMEX S.A.B. de C.V. had 38 analyst reports since July 23, 2015 according to SRatingsIntel. The stock of CEMEX, S.A.B. de C.V. (NYSE:CX) earned “Equal-Weight” rating by Barclays Capital on Friday, October 23. The rating was upgraded by Longbow on Friday, March 31 to “Buy”. Credit Suisse upgraded it to “Outperform” rating and $7.80 target in Friday, March 18 report. On Monday, August 15 the stock rating was maintained by JP Morgan with “Overweight”. The stock of CEMEX, S.A.B. de C.V. (NYSE:CX) earned “Hold” rating by Citigroup on Monday, October 23. On Tuesday, August 29 the stock rating was downgraded by Bank of America to “Hold”. The stock of CEMEX, S.A.B. de C.V. (NYSE:CX) has “Neutral” rating given on Monday, December 14 by Credit Suisse. Morgan Stanley upgraded CEMEX, S.A.B. de C.V. (NYSE:CX) on Tuesday, April 4 to “Overweight” rating. On Monday, March 21 the stock rating was upgraded by BB&T Capital to “Buy”. As per Friday, September 2, the company rating was initiated by Berenberg.

More notable recent CEMEX, S.A.B. de C.V. (NYSE:CX) news were published by: which released: “Cemex SAB de CV Series CPO” on July 05, 2017, also with their article: “Cemex SAB de CV ADR CX (US: NYSE)” published on February 11, 2011, published: “A Lack Of Catalysts Sinks Cemex Rating” on August 29, 2017. More interesting news about CEMEX, S.A.B. de C.V. (NYSE:CX) were released by: and their article: “Trade of the Day: Cemex SAB de CV (ADR) (CX)” published on September 15, 2017 as well as‘s news article titled: “Cemex SAB de CV (ADR) (NYSE:CX) Will Exercise $200 Million In Note Purchases” with publication date: March 18, 2015.

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