Thu 22'nd Mar 2018
Eastman Chemical Company Stock Analysis
Technical stock analysis for Thu 22'nd Mar 2018
Eastman Chemical Company fell by -3.26% in the last day from $107.47 to $103.97 The price has fallen in 6 of the last 10 days and is down by -1.82% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.33 million shares and in total 1.02 million shares bought and sold for approximately $105.88 million.
|Shorts||3.00% ( 2018-02-28 )|
|Loans||20 458.0 mill|
Eastman Chemical Company lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.43% during the next 3 months and, with 90% probability hold a price between $113.57 and $127.78 at the end of this period.
Eastman Chemical Company holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $106.61. On a fall, the stock will find some support from the long-term average at approximately $102.53. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday March 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Eastman Chemical Company finds support from accumulated volume at $102.31. On the upside the stock meets some resistance just above today's level from accumulated volume at $105.82, $107.79 and $110.84.
The stock is about to test the resistance from accumulated volume at $105.82 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $3.16 (3.04%) between high and low. For the last week, the stock has had a daily average volatility of 2.30%.
Our recommended stoploss: $98.07 (-5.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 8 days ago.)
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