Celanese (CE) NewsBite - CE Hits 52-Week High

Posted: Friday, November 06, 2009 3:19 PM EDT

Celanese (NYSE: CE) hit a new 52-Week high of $29.65 so far today. Currently the stock is up $0.29 (0.99%) to $29.53 on 1,270,616 shares traded. Today's high is up $23.82 from a 52-Week Low of $5.71. Celanese stock has been showing support around $27.61 and resistance in the $30.15 range. Technical indicators for the stock are bearish and S&P gives CE a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on CE the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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