CLS
- On Friday, July 28th, 2023, Celestica Inc's stock price rose by 15.05%, from $18.01 to $20.72, with fluctuations between $19.32 and $21.40. The stock has risen in 8 of the last 10 days and is up by 30.81% over the past 2 weeks. Volume has increased along with the price, which is considered a positive technical sign, with 6 million shares traded for approximately $127.01 million.
The short-term trend indicates a strong rising trend, and further rise is indicated.
Celestica Inc stock holds buy signals from both short and long-term Moving Averages, as well as a buy signal from the 3-month Moving Average Convergence Divergence (MACD).
Support levels are found just below the current price at $18.01 and $16.46, with a medium risk considering the average daily movements and trading volume.
The stock is extremely overbought on the RSI14 (86), but since it has broken the trend up, the chance for a major correction due to high RSI is considered small.
For the upcoming trading day on Monday, July 31st, Celestica Inc is expected to open at $20.48 and could move between $19.84 and $21.60.
Despite several positive signals, Celestica Inc is not considered a strong buy candidate at the current level and is suggested to be a hold/accumulate candidate, awaiting further development.
The technical picture has some small weaknesses, leading to the downgrade of the analysis conclusion from a Strong Buy to a Hold/Accumulate candidate.