Sell Signal Says It’s Time to Liquidate This Position

Use recent rebound to sell Celanese Corp. at the market

   
Sell Signal Says It’s Time to Liquidate This Position

Celanese Corp. (NYSE:CE) — Because of its international nature, this producer of industrial chemicals, engineered plastics and acetate fibers could be highly sensitive to a global recession. Higher-than-expected raw material costs add to its risk.

The stock is in a bear market consolidation following a breakdown from its 200-day moving average (MA) in June, and a death cross (50-day MA crossed through 200-day MA), also in June.

On Tuesday, our internal indicator, the Collins-Bollinger Reversal (CBR), flashed a sell signal, the second in a month, and the stochastic is turning down. Its recent rebound to near its bear market resistance provides sellers with an excellent opportunity to liquidate. Its near-term downside target is $33, but it could be headed even lower. Sell CE at the market.

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chart key 300x84 Sell Signal Says It's Time to Liquidate This Position


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/trade-of-the-day-celanese-corp-nyse-ce-3/.

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