SmarTrend Watching for Potential Pullback in Shares of Eastman Chemical After 2.25% Gain
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.
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.
Over the past year, Eastman Chemical has traded in a range of $56.03 to $83.90 and is now at $64.86, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
Keywords: rebounders Eastman Chemical