$CE Ready for Major Bullish Move as It Approaches Key Support

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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/

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Giao dịch đang hoạt động

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.

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Đóng lệnh: dừng lỗ

As stop was triggered on 11 February and price didn’t get up after this trade is not active anymore for me.