EASTMAN CHEMICAL CO
(EMN-NYSE):
Technical Viewpoint: From a low
of $38.63 on Mar 22, 2004 prices
rallied, reaching a
high of $44.10
on Apr 23, 2004. A
decline saw prices pull back, reaching a
low of
$41.97 on Apr 29, 2004.
Another rally saw prices penetrate
resistance, closing 5/4/04
at $44.20. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Mar 29, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $42.38. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Apr 30, 2004. A P&F upside
reversal takes place at $43.00. Summary: Technical indicators have turned bullish. BUY! EASTMAN CHEMICAL CO
(EMN-NYSE) @ $44.63 Stop: Use a protective stop of $42.63.
EASTMAN CHEMICAL CO is currently trading @ $44.20 plus $1.20 on May 4, 2004. Price Objective:
$55.50. Risk/Reward: $2.00 VS. $10.87. Today's Risk Reward Ratio: 5:1
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