Eastman Chemical Co (NYSE) Analysis, Chart, and Trading Idea

#EMN
 

The overall trend is descending. The stock is trading in the range between 365 and 135 EMA. The reverse 'Pin bar' pattern has formed on the H4 timeframe. The sloping channel of the ascending structure is truncated. The Stochastic Oscillator signals the oversold state.



Trading idea:

Sell at the formation of the downward wave structure

Stop-loss: 84.12

Target price levels: 80.20, 78.00.