Medium term view - CRH : The rising moving average confirms our opinion.
The trend has been momentarily interrupted by a correction. Prices just bounced on the support, it is probably resuming. The next target is at €37.017. The invalidation level is below €27.250.Arguments :
- Prices have pulled back to the major support level (previously a resistance). The rise is now resuming.
- The rising moving average confirms our opinion.
CRH is a diversified international building materials company. Co. is engaged in the manufacture and distribution of a range of building materials products from the fundamentals of heavy materials and elements to construct the frame, through value-added products that complete the building envelope, to distribution channels which service construction fit-out and renewal. Co. operates seven operating segments: Europe Heavyside, Europe Lightside, Europe Distribution, Americas Materials, Americas Products, Americas Distribution and Asia.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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