Tuesday, 18 April 2017
With a P/E that is still over 21, even though it may rally from its present low, it looks inevitable that CRH, like American shares in general, will continue to fall for a considerable time.
A substantial rise in is necessary to maintain current price levels.
European shares trade at a P/E of around 14 and American shares must correct to similar levels. I am neutral for the moment, as there may be an upswing from the current level before continuing the downtrend.
Wednesday, 5 April 2017
Bouncing off Resistance Line R today seems to indicate a downswing. I guess we will see a movement somewhat along the track described by the green arrow. Looking back next month, we will say that the downtrend began on the 1st of March.