200-day support offers tight risk-reward long setup.
Celanese is testing its 200-day moving average as support, offering a tight risk-reward long setup with stop below the 200-day.
Celanese is trading above the 200-day moving average, which is acting as support after a classic ABC correction. A long position with a tight stop 5-6% below the 200-day offers a favorable risk-reward, as the stock has historically bounced hard from this level.