Celanese Corporation Stock Forecast

Evaluation of Celanese Corporation stock downgraded after the last trading session.
(Updated on Apr 18, 2024)

CE Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.0841%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Celanese Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $156.62 and $160.84. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Celanese Corporation stock

Celanese Corporation finds support from accumulated volume at $150.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.03 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.22%.

Celanese Corporation is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CE) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Celanese Corporation to open at $154.56, and during the day (based on 14 day Average True Range), to move between $150.90 and $158.34, which gives a possible trading interval of +/-$3.72 (+/-2.41%) up or down from last closing price. If Celanese Corporation takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $157.76 (2.03%) than the support at $150.38 (2.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Celanese Corporation stock A Buy?

The Celanese Corporation stock holds several negative signals and despite the positive trend, we believe Celanese Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.127 Sell Candidate Downgraded

Predicted Opening Price for Celanese Corporation of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.