Celestica’s 5.21% Plunge Drives $680M Surge in Volume Ranking 138th in Market Activity as Technical Indicators Signal Deepening Bearish Momentum

Celestica (CLS) plunged 5.21% on August 19, with trading volume surging 111.35% to $680 million, ranking 138th in market activity. The stock has now declined 13.46% over five trading days, approaching critical technical support levels as bearish momentum intensifies across multiple indicators.

Technical analysis reveals a deteriorating chart structure. Five consecutive bearish candles culminated in a large red session on August 19, with price closing at $184.73 near the $183.17 support level. The breakdown below short-term moving averages and expanding Bollinger Bands suggest prolonged selling pressure. While the RSI reading of 25 indicates oversold conditions, divergences in MACD and stagnant KDJ indicators point to sustained downward momentum. A breach below $182.50 could trigger further declines toward the psychological $180 threshold.

Volume patterns reinforce the bearish case. Elevated trading activity on August 19 (3.63 million shares) confirmed distribution, with bearish days consistently outpacing bullish volume. This institutional unloading dynamic reduces recovery probabilities unless selling pressure abates at key support. Fibonacci retracement analysis highlights the $173.54 level as a critical inflection point, aligning with the July swing low and psychological $175 level.

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