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Downtrend Broken Resist.Archive
- 5/10/2024 -
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Celanese (CE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Celanese (CE). During the week, the CE gave back -0.48 points, or -0.31%, and closed at 156.69 on Friday, May 10, 2024. Weekly volume was -17% below average.
CE is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CE long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 176.50 and reached 86.71 on September 26, 2022. CE lost 89.79 points, or 50.87%, in 37 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (120.96) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CE medium-term trend chart]
A medium-term uptrend had started on September 26, 2022 at 86.71 and reached 172.16 on March 28, 2024. CE gained -85.45 points, or -98.55%, in 78 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 122.04 and resistance is at 174.91. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See CE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See CE short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 152.04 and reached 169.50 on May 9, 2024. CE gained -17.46 points, or -11.48%, in 14 days. The price is now at the 73.37% retracement level.
Daily Technical Indicators: [See CE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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