Trading idea for Eastman Chemical Company (NYSE)
#EMN
The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. A bullish divergence has on Awesome Oscillator. The moving indicators of Stochastic Oscillator have left the oversold zone. The breakdown of 112.20 will result in the formation of an ascending wave pattern, where the wave (A) has broken through the inclined channel of the descending pattern
Trading idea:
Buy on the breakout of 112.20.
Stop Loss: 104.65.
Target levels: 119.08; 129.63.
Author: GC
