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Downtrend ExhaustionArchive
- 1/10/2025 -
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Eastman Chemical (EMN) Technical Analysis
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| Summary:
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| | It was the negative week for the Eastman Chemical (EMN). During the week, the EMN dropped -1.43 points, or -1.61%, and closed at 87.24 on Friday, January 10, 2025. Weekly volume was 15% above average.
EMN is a member of Materials Sector. Materials is the most oversold sector. EMN is a member of Diversified Chemicals Industry. Diversified Chemicals is the second most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 52.05 and resistance is at 124.89. 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 (106.15) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EMN may retest the broken support line. It is considered to be a resistance line now. 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 Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 1, 2024. The distance between MACD and the signal line is near its high and getting bigger. 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 November 25, 2024 at 107.50 and reached 86.75 on January 10, 2025. EMN lost 20.75 points, or 19.30%, in 46 days. Price is near the trend low.
 Daily Technical Indicators: [See EMN daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is below its signal line since December 5, 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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