Celanese Corporation (CE) has been under a strong bear grip, hence the stock is down -5.84% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.73% in the past 1 week. The stock has risen by 2.16% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.5% in the past 4 weeks.
Celanese Corporation (NYSE:CE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.46 and $64.14 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $65.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $64.79, notching a gain of 1.16% for the day. The total traded volume was 715,129 . The stock had closed at $64.05 on the previous day.
The stock has recorded a 20-day Moving Average of 3.49% and the 50-Day Moving Average is 4.46%. Celanese Corporation has dropped 8.02% during the last 3-month period . Year-to-Date the stock performance stands at -2.24%.
Celanese Corporation (CE) : The highest short term price target forecast on Celanese Corporation (CE) is $83 and the lowest target price is $65. A total of 9 equity analysts are currently covering the company. The average price of all the analysts is $74.56 with a standard deviation of $5.83.
Celanese Corporation is a technology and specialty materials company. The Companys business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene, ultra-high molecular weight polyethylene, polybutylene terephthalate, and liquid crystal polymers, among others. Consumer Specialties products include acetate tow, acetate flakes, acetate film and high intensity sweeteners, among others. Industrial Specialties products include conventional emulsions, vinyl acetate ethylene emulsions and ethylene vinyl acetate, among others. Acetyl Intermediates include acetic acid, vinyl acetate monomer, acetic anhydride and acetaldehyde, among others.