Trade Idea for Eastman Chemical Company (NYSE)

Eastman Chemical Company (NYSE)

#EMN

 The trend is downward. The stock is trading within the range of the 365 and 135 moving averages. The ascending channel of the truncated upward structure has been broken. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on the formation of a downward wave structure.

Stop Loss – 73.90.

Target levels – 67.60; 65.27.