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Bearish Moving Average Cross by Eastman Chemical (EMN)

By James Quinn

Today, shares of Eastman Chemical (NYSE:EMN) have fallen below their 10-day MA of $76.44 on a volume of 657K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Eastman Chemical share prices have moved between a 52-week high of $83.90 and a 52-week low of $56.03 and are now trading 33% above that low price at $74.62 per share. The 200-day and 50-day moving averages have moved 0.01% lower and 1.81% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Eastman Chemical on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.71. Since that recommendation, shares of Eastman Chemical have risen 22.8%. We continue to monitor EMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Eastman Chemical

Ticker(s): EMN