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Selling Buzz: Celanese Corp [CE] EVP & COO Richardson Scott A sells 4,675 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Celanese Corp shares valued at $605,459 were sold by Richardson Scott A on Aug 19 ’24. At $129.51 per share, Richardson Scott A sold 4,675 shares. The insider’s holdings dropped to 69,754 shares worth approximately $9.07 million following the completion of this transaction.

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Also, Richardson Scott A sold 4,675 shares, netting a total of over 604,992 in proceeds. Following the sale of shares at $129.41 each, the insider now holds 65,079 shares.

Before that, Richardson Scott A had added 4,675 shares to its account. In a trade valued at $604,992, the Officer bought Celanese Corp shares for $129.41 each.

As published in a research note from Piper Sandler on September 05, 2024, Celanese Corp [CE] has been rated down from an Overweight to a Neutral and the price target has been revised to $150 from $180. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of April 04, 2024, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for CE. Earlier on April 04, 2024, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for CE stock which previously was a “an Overweight”.

Analyzing CE Stock Performance

During the last five days, there has been a surge of approximately 8.52%. Over the course of the year, Celanese Corp shares have dropped approximately -16.27%. Shares of the company reached a 52-week high of $172.16 on 03/28/24 and a 52-week low of $116.88 on 09/11/24. A 50-day SMA is recorded $130.99, while a 200-day SMA reached $146.15. Nevertheless, trading volume fell to 1.18 million shares from 0.95 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 128.69, which, if violated, would cause prices to drop to 127.29. In the upper region, resistance lies at 131.62. The next price resistance is at 133.15. RSI (Relative Strength Index) is 57.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.79, which suggests the price will increase in the coming days. Percent R is at 11.19%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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