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Eastman Chemical Set to Possibly Rebound After Yesterday's Selloff of 2.55%

By Amy Schwartz

Eastman Chemical (NYSE:EMN) traded in a range yesterday that spanned from a low of $72.05 to a high of $73.06. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $72.19 on volume of 477,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Eastman Chemical share prices have moved between a 52-week high of $110.17 and a 52-week low of $64.84 and are now trading 12% above that low price at $72.31 per share. The 200-day and 50-day moving averages have moved 0.63% lower and 0.46% lower over the past week, respectively.

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