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SmarTrend Watching for Potential Pullback in Shares of Eastman Chemical After 1.53% Gain

By David Diaz

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, Eastman Chemical share prices have been bracketed by a low of $62.70 and a high of $112.45 and are now at $109.18, 74% 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 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