Stock in Focus: Southeast Asia Cement (CMT)

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The stock of Southeast Asia Cement Holdings (stock symbol: CMT) certainly did not have a smooth ride upward (through 4.00) following a near-1 year consolidation around the 1.00 level.

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Philippine Stock Exchange, Southeast Asia Cement Holdings_CMT Daily chart, August 8, 2014

CMT Daily chart, August 8, 2014

After CMT gapped up and topped at 4.20, the stock has held close to the 2.50 area. Will 2.00 provide support moving forward? It should, so that bulls can keep their control of this stock, at least in the near-term.

Resistance at 4.00-5.00. A break of 2.00 could lead CMT back to 1.00.

The TRIX Index remains in a comfortable downtrend heading for the zero level.

Do you have CMT in your portfolio? Share your thoughts below!

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