The Hourly View for EMN
Currently, EMN (Get Ratings)’s price is up $0.47 (0.41%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EMN has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EMN’s Technical Outlook on the Daily Chart
At the time of this writing, EMN’s price is up $1.7 (1.51%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Of note is that the 20 day changed directions on EMN; it is now pointing up. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows EMN’s price action over the past 90 days.
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The post Eastman Chemical Co (EMN): Price Now Near $114.22; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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