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CE (Celanese Corp) may reap gains as insiders became active recently

In a filing, Celanese Corp revealed its EVP & COO Richardson Scott A unloaded Company’s shares for reported $0.31 million on Mar 15 ’24. In the deal valued at $156.49 per share,2,000 shares were sold. As a result of this transaction, Richardson Scott A now holds 74,429 shares worth roughly $11.43 million.

Then, Kelly Thomas Francis bought 1,400 shares, generating $219,373 in total proceeds. Upon buying the shares at $156.69, the SVP, EM now owns 57,023 shares.

Before that, Richardson Scott A sold 2,000 shares. Celanese Corp shares valued at $313,700 were divested by the EVP & COO at a price of $156.85 per share. As a result of the transaction, Richardson Scott A now holds 76,429 shares, worth roughly $11.74 million.

JP Morgan downgraded its Celanese Corp [CE] rating to an Underweight from a a Neutral in a research note published on April 04, 2024; the price target was increased to $160 from $135. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early April from “an Overweight” to “an Equal weight”. Piper Sandler also remained covering CE and has increased its forecast on February 26, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. Tudor Pickering Holt & Co. revised its rating on February 22, 2024. It rated CE as “a Sell” which previously was an “a Buy”.

Price Performance Review of CE

On Tuesday, Celanese Corp [NYSE:CE] saw its stock fall -2.53% to $153.61. Over the last five days, the stock has lost -1.56%. Celanese Corp shares have fallen nearly -1.13% since the year began. Nevertheless, the stocks have risen 44.59% over the past one year. While a 52-week high of $172.16 was reached on 03/28/24, a 52-week low of $99.33 was recorded on 02/21/24. SMA at 50 days reached $158.35, while 200 days put it at $138.48. A total of 0.39 million shares were traded, compared to the trading of 0.44 million shares in the previous session.

Levels Of Support And Resistance For CE Stock

The 24-hour chart illustrates a support level at 152.25, which if violated will result in even more drops to 150.89. On the upside, there is a resistance level at 156.11. A further resistance level may holdings at 158.60. The Relative Strength Index (RSI) on the 14-day chart is 41.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.23%. Stochastics %K at 26.94% indicates the stock is a holding.

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