Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Celanese Corp shares valued at $313,700 were sold by Richardson Scott A on Mar 14 ’24. At $156.85 per share, Richardson Scott A sold 2,000 shares. The insider’s holdings dropped to 76,429 shares worth approximately $9.61 million following the completion of this transaction.
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Also, Richardson Scott A sold 2,000 shares, netting a total of over 312,980 in proceeds. Following the sale of shares at $156.49 each, the insider now holds 74,429 shares.
Before that, Kelly Thomas Francis had added 1,400 shares to its account. In a trade valued at $219,373, the SVP, EM bought Celanese Corp shares for $156.69 each. Upon closing the transaction, the insider’s holdings increased to 1,400 shares, worth approximately $7.17 million.
As published in a research note from JP Morgan on August 05, 2024, Celanese Corp [CE] has been rated up from an Underweight to a Neutral and the price target has been revised to $130 from $156. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early April. As of April 04, 2024, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for CE. Earlier on February 26, 2024, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for CE stock which previously was a “a Neutral”.
Analyzing CE Stock Performance
During the last five days, there has been a surge of approximately 0.56%. Over the course of the year, Celanese Corp shares have dropped approximately -19.07%. Shares of the company reached a 52-week high of $172.16 on 03/28/24 and a 52-week low of $124.42 on 08/12/24. A 50-day SMA is recorded $137.23, while a 200-day SMA reached $145.95. Nevertheless, trading volume fell to 0.9 million shares from 1.02 million shares the previous day.
Support And Resistance Levels for Celanese Corp (CE)
According to the 24-hour chart, there is a support level at 124.61, which, if violated, would cause prices to drop to 123.47. In the upper region, resistance lies at 127.56. The next price resistance is at 129.37. RSI (Relative Strength Index) is 35.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.19, which suggests the price will decrease in the coming days. Percent R is at 93.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
