For TA fans only - CRH as a trading stockThis is to respond to those inbox me to alert that CRH has breached most trading levels that was set about 8 weeks ago.
That is correct to say the trading range has narrowed very much after we cashed out just about around $3.88. The pullback since then has been extended and broke through the $3.25 and then $3.09. Today's selloff to $3 make the $2.85, the long term support for the last two years, an important one to watch. Will it crash back to test $2.63 again? Possible but not very lightly. I would point out that the previous trading levels will become resistance levels. The trading opportunity that is presented like today tends to give the traders a -5% to +10% risk/reward. This 2R return is for your consideration.
Just remember Cash Is King. There is absolutely no point to lock up your investment that will bear no fruit in the next couple of months while opportunities in other sectors are available right now when you look around in the market.