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Celanese Corp-A Rises 2.08% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Celanese Corp-A (NYSE:CE) traded in a range yesterday that spanned from a low of $104.61 to a high of $106.76. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $104.96 on volume of 432,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Celanese Corp-A have traded between a low of $60.59 and a high of $114.00 and are now at $106.34, which is 76% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend is monitoring the recent change of momentum in Celanese Corp-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Celanese Corp-A in search of a potential trend change.

Keywords: rebounders celanese corp-a

Ticker(s): CE