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Downtrend Broken Resist.Archive
- 7/19/2024 -
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Celanese (CE) Technical Analysis
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| Summary:
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| | It was the negative week for the Celanese (CE). During the week, the CE dropped -3.38 points, or -2.38%, and closed at 138.86 on Friday, July 19, 2024. Weekly volume was -17% below average.
 Long-term trend: [See CE long-term trend chart]
A long-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 124.91 and resistance is at 183.83. 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 long-term trend.
 Medium-term trend: [See CE medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 172.16 and reached 130.91 on July 5, 2024. CE lost 41.25 points, or 23.96%, in 14 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 126.51 and resistance is at 165.10. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See CE weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 July 5, 2024 at 130.91 and reached 147.85 on July 17, 2024. CE gained -16.94 points, or -12.94%, in 12 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 132.31 and resistance is at 151.56. 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 short-term trend.
 Daily Technical Indicators: [See CE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 5, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (138.22) comes close to the price (138.86). It indicates that the trend is getting weaker. 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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