$CE Ready for Major Bullish Move as It Approaches Key Support
The price is currently sitting at a strong support level which also coincides with the bottom of a historical bullish trendline. These confluences suggest a high probability of a reversal to the upside.
Additionally, volume has increased, signaling growing interest and potential momentum buildup in the stock. Notably, a doji candle formed on the January monthly chart, which typically indicates market indecision and potential reversal points.
The ATH (All-Time High) isn't far from the current chart structure, making this setup particularly attractive in terms of risk-reward. Based on a technical analysis, we are looking at a 1:27 risk-reward ratio to the ATH, making this trade highly favorable.
Given the combination of support, bullish trendline, volume increase, and the doji candle, I’m bullish on
CE in the medium to long term.
https://www.tradingview.com/x/CmryeBIc/
Additionally, volume has increased, signaling growing interest and potential momentum buildup in the stock. Notably, a doji candle formed on the January monthly chart, which typically indicates market indecision and potential reversal points.
The ATH (All-Time High) isn't far from the current chart structure, making this setup particularly attractive in terms of risk-reward. Based on a technical analysis, we are looking at a 1:27 risk-reward ratio to the ATH, making this trade highly favorable.
Given the combination of support, bullish trendline, volume increase, and the doji candle, I’m bullish on
CE in the medium to long term.https://www.tradingview.com/x/CmryeBIc/
Trade active
The stop loss on CE Celanese was triggered. This is part of the game, and while it’s a setback, it’s important to stick to the plan. I’ll continue to monitor the stock, and if the price moves up again, I’ll follow up with a potential reentry.
Based on these ideas I trade personally. 📊 +16% made in 7 months! 🚀Check my stats and portfolio on eToro: etoro.tw/47ZBg2r
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Based on these ideas I trade personally. 📊 +16% made in 7 months! 🚀Check my stats and portfolio on eToro: etoro.tw/47ZBg2r
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.