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Eastman Chemical Bearish Moving Average Crossover Alert (EMN)

By Amy Schwartz

Eastman Chemical (NYSE:EMN) shares have crossed bearishly below their 10-day moving average of $107.62 on a volume of 214K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Eastman Chemical has traded in a range of $62.70 to $112.45 and is now at $106.57, 70% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Eastman Chemical on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $100.14. Since that recommendation, shares of Eastman Chemical have risen 7.6%. 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