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Watch for Celanese to Potentially Pullback After Gaining 6.71% Yesterday

By Shiri Gupta

Celanese (NYSE:CE) traded in a range yesterday that spanned from a low of $92.70 to a high of $96.87. Yesterday, the shares gained 6.7%, which took the trading range above the 3-day high of $91.00 on volume of 827,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Celanese has traded in a range of $54.35 to $96.87 and is now at $96.52, 78% above that low. The 200-day and 50-day moving averages have moved 0.13% higher and 1.37% higher over the past week, respectively.

Keywords: rebounders Celanese

Ticker(s): CE