Eastman Chemical (EMN) NewsBite - Trading With Unusual Volume

Thursday, October 09, 2008 3:39 PM EDT

Eastman Chemical (EMN) appears to be trading at a higher than usual volume today and is now at $44.49, up $1.74 (4.07%) on volume of 2,454,791 shares traded. For the last 30 days EMN has traded 1,085,440 shares on average each day. So far today's volume is 126.16% above that average volume. Over the last 52 weeks the stock has ranged from a low of $42.75 to a high of $78.29. Eastman Chemical stock has been showing support around $39.41 and resistance in the $49.43 range. Technical indicators for the stock are bullish and S&P gives EMN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on EMN the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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