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 $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 $8.86 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 Vertical Research on October 29, 2024, Celanese Corp [CE] has been rated down from a Hold to a Sell and the price target has been revised to $130. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in early October. As of September 05, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for CE. Earlier on August 05, 2024, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for CE stock which previously was a “an Underweight”.
Analyzing CE Stock Performance
During the last five days, there has been a drop of approximately -1.49%. Over the course of the year, Celanese Corp shares have dropped approximately -18.25%. 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 $129.96, while a 200-day SMA reached $143.82. Nevertheless, trading volume fell to 0.76 million shares from 0.81 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 125.25, which, if violated, would cause prices to drop to 123.48. In the upper region, resistance lies at 128.93. The next price resistance is at 130.84. RSI (Relative Strength Index) is 40.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.03, which suggests the price will decrease in the coming days. Percent R is at 86.38%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
