Recent 52-Week High Exceeded in Shares of Eastman Chemical (EMN)
Shares of Eastman Chemical (NYSE:EMN) traded today at $67.41, breaking its 52-week high. This new high was reached on below average trading volume as 510,000 shares traded hands, while the average 30-day volume is approximately 1.9 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, and Inks, fibers, performance chemicals and intermediates, performance polymers, and specialty plastics.
Potential upside of 6.8% exists for Eastman Chemical, based on a current level of $67.35 and analysts' average consensus price target of $71.93. The stock should discover initial support at its 50-day moving average (MA) of $60.32 and subsequent support at its 200-day MA of $53.96.
Over the past year, Eastman Chemical has traded in a range of $39.16 to $67.41 and is now at $67.35, 72% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.5%.
SmarTrend recommended that subscribers consider buying shares of Eastman Chemical on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.54. Since that recommendation, shares of Eastman Chemical have risen 10.9%. 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