Price Bubbles Always Burst: CEMEX Makes a Head and Shoulders Top

CEMEX (CX), a global provides of cement, ready-mix concrete and aggregates, is down 47.89 percent from its closing high of $39.63 seton June 15, 2007.

The head and shoulders price pattern shows the multiyear upside, peak (head) and downside of the stock. CX has dropped below the neckline of the head and shoulders reversal pattern, indicating that it could go lower.

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Posted August 20, 2008.