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Eastman Chemical Set to Possibly Pullback After Yesterday's Rally of 1.53%

By Nick Russo

Eastman Chemical (NYSE:EMN) traded in a range yesterday that spanned from a low of $107.63 to a high of $109.29. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $108.28 on volume of 356,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Eastman Chemical have traded between a low of $62.70 and a high of $112.45 and are now at $109.18, which is 74% above that low price. 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 is monitoring the recent change of momentum in Eastman Chemical. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Eastman Chemical in search of a potential trend change.

Keywords: rebounders Eastman Chemical

Ticker(s): EMN