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Downtrend ExhaustionArchive
- 12/13/2024 -
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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 -1.96 points, or -2.78%, and closed at 68.58 on Friday, December 13, 2024. Weekly volume was 167% above average.
CE is a member of Materials Sector. Materials is the most oversold 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 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 price is now at the 121.22% retracement level.
 Medium-term trend: [See CE medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 172.16 and reached 67.03 on December 13, 2024. CE lost 105.13 points, or 61.07%, in 37 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (92.29) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 1, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its 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 downtrend had started on December 11, 2024 at 67.64 and reached 67.03 on December 13, 2024. CE lost 0.61 points, or 0.90%, in 2 days. The price is now at the 254.10% retracement level.
 Daily Technical Indicators: [See CE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is above its signal line since November 22, 2024. The distance between MACD and the signal line is low and getting smaller.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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