Celanese Corporation (CE) : Traders are bullish on Celanese Corporation (CE) as it has outperformed the S&P 500 by a wide margin of 3.61% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.96%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.14% in the last 1 week, and is up 3.05% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.55% and the 50-Day Moving Average is 2.99%.The 200 Day SMA reached 1.99%
Celanese Corporation (NYSE:CE): After opening at $65.93, the stock dipped to an intraday low of $65.73 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $66.89 and the buying power remained strong till the end. The stock closed at $66.56 for the day, a gain of 1.43% for the day session. The total traded volume was 845,647. The stocks close on the previous trading day was $66.56.
Celanese Corporation (CE) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $83 and the lowest price target forecast is $65. The average forecast of all the analysts is $74.56 and the expected standard deviation is $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.