Eastman Chemical Co (EMN): Price Now Near $111.3; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for EMN

At the moment, EMN’s price is down $-2.8 (-2.46%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EMN’s Technical Outlook on the Daily Chart

At the time of this writing, EMN’s price is down $-1.9 (-1.68%) from the day prior. This move is a reversal from the day prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Eastman Chemical Co’s price action over the past 90 days can be seen via the chart below.

EMN

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