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Eastman Chemical Bearish Moving Average Crossover Alert (EMN)

By Shiri Gupta

Today, shares of Eastman Chemical (NYSE:EMN) have crossed bearishly below their 10-day moving average of $73.56 on a volume of 148K 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.

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 30% above that low price at $72.95 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

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 15.7%. 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