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Diversified Chemicals Industry Stocks Technical Analysis - EMNArchive
- 11/15/2024 -
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Eastman Chemical (EMN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second positive week after 3 consecutive negative weeks for the Eastman Chemical (EMN). During the week, the EMN climbed 0.30 points, or 0.30%, and closed at 101.80 on Friday, November 15, 2024. EMN was trading at average weekly trading volume.
 Long-term trend: [See EMN long-term trend chart]
A long-term downtrend had started on June 1, 2021 at 130.47 and reached 68.89 on October 25, 2023. EMN lost 61.58 points, or 47.20%, in 125 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 54.05 and resistance is at 125.11. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See EMN medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 68.89 and reached 114.50 on September 27, 2024. EMN gained -45.61 points, or -66.21%, in 48 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (104.99) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See EMN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 1, 2024. Use the following link to access a MACD help.
 Short-term trend: [See EMN short-term trend chart]
A short-term downtrend had started on September 27, 2024 at 114.50 and reached 98.20 on November 5, 2024. EMN lost 16.30 points, or 14.24%, in 39 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EMN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 3, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Materials |
4 |
| Industry |
Diversified Chemicals |
35 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
111.79 |
| High Date |
10/15/2024 |
| Low |
98.20 |
| Low Date |
11/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
114.50 |
| High Date |
09/27/2024 |
| Low |
98.20 |
| Low Date |
11/05/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Right-Angled, Ascending Wedge |
| Status |
Valid |
| Resistance |
122.75 |
| Support |
94.17 |
| Low |
93.45 |
| Low Date |
07/05/2024 |
| High |
114.50 |
| High Date |
09/27/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Broken Support |
| Resistance |
119.57 |
| Support |
104.99 |
| Low |
68.89 |
| Low Date |
10/25/2023 |
| High |
114.50 |
| High Date |
09/27/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Valid |
| Resistance |
125.11 |
| Support |
54.05 |
| High |
130.47 |
| High Date |
06/01/2021 |
| Low |
68.89 |
| Low Date |
10/25/2023 |
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