Credit: Shutterstock photoIn a welcome move, Celanese ( CE ) saw its Relative Strength Rating improve from 69 to 72 on Friday.
[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's unique rating identifies price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they launch their largest runs. See if Celanese can continue to rebound and clear that threshold.
See How IBD Helps You Make More Money In Stocks
Celanese is trading within a buy zone after breaking past a 109.21 entry in a flat base . The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity..
Taking a look at top and bottom line numbers, the company has posted rising EPS growth over the last two quarters. Revenue gains have also moved higher during the same period. The company is expected to release its next quarterly numbers on or around Feb. 1.
Celanese holds the No. 4 rank among its peers in the Chemicals-Basic industry group. Westlake Chemical ( WLK ) is the No. 1-ranked stock within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
