Celanese Corporation (CE) Shares Slide -9.71%

Celanese Corporation (CE) : During the past 4 weeks, traders have been relatively bearish on Celanese Corporation (CE), hence the stock is down -7.1% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -9.65% relative to the S&P 500. The 4-week change in the price of the stock is -3.98% and the stock has fallen -9.71% in the past 1 week.

The stock has recorded a 20-day Moving Average of 6.09% and the 50-Day Moving Average is 7.35%. Celanese Corporation has dropped 9.8% during the last 3-month period . Year-to-Date the stock performance stands at -4.3%.


Celanese Corporation (NYSE:CE): On Fridays trading session , Opening price of the stock was $65.38 with an intraday high of $66.09. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $63.39. However, the stock managed to close at $63.42, a loss of 4.17% for the day. On the previous day, the stock had closed at $66.18. The total traded volume of the day was 2,258,019 shares.

Also, Major Brokerage house, Citigroup maintains its ratings on Celanese Corporation (NYSE:CE). In the latest research report, Citigroup lowers the target price from $81 per share to $77 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on July 28, 2016.

Celanese Corporation is a technology and specialty materials company. The Companys business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene, ultra-high molecular weight polyethylene, polybutylene terephthalate, and liquid crystal polymers, among others. Consumer Specialties products include acetate tow, acetate flakes, acetate film and high intensity sweeteners, among others. Industrial Specialties products include conventional emulsions, vinyl acetate ethylene emulsions and ethylene vinyl acetate, among others. Acetyl Intermediates include acetic acid, vinyl acetate monomer, acetic anhydride and acetaldehyde, among others.

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