Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eastman Chemical Co shares valued at $415,519 were sold by Holt Adrian James on Mar 06 ’24. At $87.75 per share, Holt Adrian James sold 4,735 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Costa Mark J sold 12,000 shares, netting a total of over 1,051,200 in proceeds. Following the sale of shares at $87.60 each, the insider now holds 395,699 shares.
Before that, Holt Adrian James had sold 1,935 shares from its account. In a trade valued at $165,713, the SVP, Chf HR Ofcr traded Eastman Chemical Co shares for $85.64 each. Upon closing the transaction, the insider’s holdings decreased to 1,935 shares, worth approximately $0.0.
As published in their initiating research note from Redburn Atlantic on February 15, 2024, Eastman Chemical Co [EMN] has been a Buy and the price target has been revised to $110. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of October 30, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for EMN. Earlier on August 01, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for EMN stock which previously was a “an Overweight”.
Analyzing EMN Stock Performance
During the last five days, there has been a surge of approximately 0.11%. Over the course of the year, Eastman Chemical Co shares have jumped approximately 7.03%. Shares of the company reached a 52-week high of $102.71 on 04/04/24 and a 52-week low of $80.71 on 02/02/24. A 50-day SMA is recorded $93.41, while a 200-day SMA reached $84.90. Nevertheless, trading volume fell to 1.63 million shares from 1.07 million shares the previous day.
Support And Resistance Levels for Eastman Chemical Co (EMN)
According to the 24-hour chart, there is a support level at 95.24, which, if violated, would cause prices to drop to 94.34. In the upper region, resistance lies at 96.64. The next price resistance is at 97.14. RSI (Relative Strength Index) is 48.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.40, which suggests the price will decrease in the coming days. Percent R is at 82.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
