CRH: beats estimates but close to a key resistance

The company unveiled a mixed outlook.

Downtrend 4

The provider of building materials posted 1H operating profit down 4% to 764 million dollars on sales down 3% on a like-for-like basis. Those figures beats estimates. CRH expects 3Q Ebitda to be in line with the year earlier, but can't currently provide a FY guidance. 

From a charting point of view, the stock tested the key resistance at 3120 at the open but failed to break above it. As long as this level is not surpassed, a consolidation move would be expected towards 2880 at first.

Source : TradingVIEW, Gain Capital

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