EASTMAN CHEMICAL CO
(EMN-NYSE):
Technical Viewpoint: From a low
of $33.26 on Oct 25, 2002 prices
rallied, reaching a
high of $39.60
on Nov 19, 2002. A
decline saw prices pull back, reaching a
low of
$35.61 on Dec 7, 2002.
Another rally saw prices penetrate
resistance, closing 1/7/02
at $43.10. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Nov 8, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $40.00. Resistance: Is at $45.10.
Point & Figure: Reversed to the upside on Jan 7, 2002. A P&F upside
reversal takes place at $42.00. Summary: Technical indicators have turned bullish. BUY! Eastman Chemical Co
(EMN-NYSE) @ $43.63 Stop: Use a protective stop of $41.13.
Eastman Chemical Co is currently trading @ $43.10 plus $1.36 on Jan 7, 2002. Price Objective:
$54.00. Risk/Reward: $2.50 VS. $10.38. Today's Risk Reward Ratio: 4:1
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