Is Century Aluminum Company (CENX) Worth Significant Investment?

Century Aluminum Company (NASDAQ:CENX) gained 5.44% in yesterday’s session, going up from its prior closing price of $14.33 to $15.11, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The price has been moving in both directions for this period, and there has been a -9.74% loss over 10-day period. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 1.13 million more shares exchanged hands compared with prior day. In total, 2.65 M shares exchanged hands for about $40.01 million.

Inside CENX’s Recent Trend

Century Aluminum Company (CENX) lies in the middle of a very wide and weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 7.76% over the course of a quarter and, with 90% chance the price will be floating in the range of $14.46 and $20.18 in this timeframe.

Century Aluminum Company Technical Signals

CENX is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $16.08. On a drop, the stock is likely to find some support over the short run, which begins at $14.27. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.

Century Aluminum Company (NASDAQ:CENX) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $14.12 and $13.33. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $15.58, $16.90 and $17.60.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Century Aluminum Company approaches the first support point just current price at $14.12. In case of a break, the next support we will see from accumulated volume is going to be at $13.33 and $13.25. Accumulated volume is going to prevent the price from rising further at $15.58 and this action will lead the price to take a temporary pause or stay muted for a few days.

Century Aluminum Company (CENX) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.65 between high and low, or 4.48%. The average volatility for the past week stood at 4.25%.


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