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Archive
- 4/19/2024 -
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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 dropped -1.59 points, or -1.02%, and closed at 154.45 on Friday, April 19, 2024. Weekly volume was -42% 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 (119.70) 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 February 21, 2024 at 137.64 and reached 172.16 on March 28, 2024. CE gained -34.52 points, or -25.08%, in 5 weeks. The price is now at the 51.30% retracement level.
 Weekly Technical Indicators: [See CE weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See CE short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 172.16 and reached 153.01 on April 18, 2024. CE lost 19.15 points, or 11.12%, in 21 days. The price is now at the 7.52% retracement level.
 Daily Technical Indicators: [See CE daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Materials |
10 |
| Industry |
Specialty Chemicals |
70 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
172.16 |
| High Date |
03/28/2024 |
| Low |
153.01 |
| Low Date |
04/18/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
137.64 |
| Low Date |
02/21/2024 |
| High |
172.16 |
| High Date |
03/28/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
97.12 |
| Low Date |
03/24/2023 |
| High |
172.16 |
| High Date |
03/28/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
86.71 |
| Low Date |
09/26/2022 |
| High |
172.16 |
| High Date |
03/28/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
74.14 |
| Support |
119.70 |
| High |
176.50 |
| High Date |
01/05/2022 |
| Low |
86.71 |
| Low Date |
09/26/2022 |
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