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Eastman Chemical: The Winning Streak Continues (EMN)

By Shiri Gupta

Shares of Eastman Chemical (NYSE:EMN) traded at a new 52-week high today of $86.79. This new high was reached on below average trading volume as 126,000 shares traded hands, while the average 30-day volume is approximately 1.2 million shares.

Eastman Chemical Company is an international chemical company which produces chemicals, fibers, and plastics. The Company's operations include coatings, adhesives, specialty polymers, inks, fibers, performance chemicals and intermediates, performance polymers, and specialty plastics.

Eastman Chemical has overhead space with shares priced $86.47, or 3.0% below the average consensus analyst price target of $89.14. Eastman Chemical shares have support at the 50-day moving average (MA) of $72.62 and additional support at the 200-day MA of $69.88.

In the past 52 weeks, shares of Eastman Chemical have traded between a low of $62.70 and a high of $86.79 and are now at $86.47, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 1.42% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Eastman Chemical on June 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.26. Since that recommendation, shares of Eastman Chemical have risen 5.5%. We continue to monitor EMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Eastman Chemical

Ticker(s): EMN