Celanese Corporation Stock Forecast
Celanese Corporation stock price ended at $154.44 on Wednesday, after gaining 0.540%.
(Updated on May 01, 2024)
The Celanese Corporation stock price gained 0.540% on the last trading day (Wednesday, 1st May 2024), rising from $153.61 to $154.44. During the last trading day the stock fluctuated 2.89% from a day low at $153.38 to a day high of $157.81. The price has risen in 6 of the last 10 days but is still down by -0.03% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 432 thousand shares were bought and sold for approximately $66.79 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $153.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.57% during the next 3 months and, with a 90% probability hold a price between $165.45 and $189.90 at the end of this 3-month period.
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CE Signals & Forecast
There are mixed signals in the stock today. 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 $155.07 and $160.99. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.540%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
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 $4.43 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $145.00 (-6.11%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Celanese Corporation to open at $155.21, and during the day (based on 14 day Average True Range), to move between $150.85 and $158.03, which gives a possible trading interval of +/-$3.59 (+/-2.32%) up or down from last closing price. If Celanese Corporation takes out the full calculated possible swing range there will be an estimated 4.65% 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 (2.15%) than the support at $150.38 (2.63%), 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.
Earnings coming up
Celanese Corporation will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.91. We will update the financials statements for Celanese Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.55% in the first trading day after earnings release.
Is Celanese Corporation stock A Buy?
Celanese Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.923 Hold/Accumulate Unchanged
Predicted Opening Price for Celanese Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $155.21 ( 0.499%) | $154.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 159.64 | 3.37 % | |
| R2 | 157.95 | 2.27 % | ||
| R1 | 156.90 | 1.59 % | ||
| Current price: | 154.44 | |||
| Support | S1 | 153.52 | -0.597 % | |
| S2 | 152.47 | -1.27 % | ||
| S3 | 150.78 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.31 | 5.74 % | |
| R2 | 162.31 | 5.10 % | ||
| R1 | 157.76 | 2.15 % | ||
| Current price | 154.44 | |||
| Support | S1 | 150.38 | -2.63% | |
| S2 | 150.13 | -2.79% | ||
| S3 | 149.37 | -3.28% |
CE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | Apr 26, 2024 | May 13, 2024 | $0.700 | 0.453% |
| 2 | Feb 07, 2024 | Feb 20, 2024 | Mar 05, 2024 | $0.700 | 0.462% |
| 3 | Feb 07, 2024 | Feb 16, 2024 | Mar 05, 2024 | $0.700 | 0.462% |
| 4 | Oct 18, 2023 | Oct 30, 2023 | Nov 13, 2023 | $0.700 | 0.594% |
| 5 | Oct 18, 2023 | Oct 27, 2023 | Nov 13, 2023 | $0.700 | 0.594% |
FAQ
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