CEMEX Long on momentum strength

٦ سبتمبر ٢٠١٦

Long CEMEX at 8.55 with a price target of 9.90 and a stop at 7.85. After posting surprisingly strong earnings in July price moved steadily above resistance at the ~8 level. Recently it seems to have confirmed a bounce off of this same ~8 level. I look for support in the same region with little resistance to the upside until ~10. R/R of 1.65/1. If you follow my 10000 USD base account recommendations I advise a 200 share long position.