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Look for Shares of Eastman Chemical to Potentially Pullback after Yesterday's 2.25% Rise

By James Quinn

Eastman Chemical (NYSE:EMN) traded in a range yesterday that spanned from a low of $64.41 to a high of $65.37. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $64.49 on volume of 749,000 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 $56.03 and a high of $83.90 and are now at $64.86, which is 16% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend is tracking the current trend status for Eastman Chemical and will alert subscribers who have EMN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Eastman Chemical

Ticker(s): EMN