Tuesday, October 30, 2012

Eastman Chemical Company - EMN - Barchart Chart of the Day


Barchart.coms Chart of the Day - Eastman Chemical Company (EMN)
The "Chart of the Day" is Eastman Chemical Company (EMN), which showed up on Friday's Barchart "All-Time High" list. Eastman Chemical gapped higher Friday and posted an all-time at $61.22 and closed up +12.19%. TrendSpotter exited a short position on Eastman Friday and got long at $59.57. In recent news on the stock, Eastman Chemical reported Friday that in Q3 it earned $1.57 per share on an adjusted basis from continuing operations, higher than analysts' estimates of $1.42 per share. Eastman also raised its full-year 2012 earnings forecast to $5.30 to $5.40 per share for the year on an adjusted basis, up from its prior forecast of $5.30 per share, as CEO Jim Rogers said that the company's acquisition of Solutia this summer boosted earnings. Eastman Chemical Company, with a market cap of $8.327 billion, is a global chemical company that manufactures and sells chemicals and specialty polymers supplied to the inks, coatings, adhesives, sealants, and textile industries; fine chemicals; performance chemicals and intermediates; specialty plastics; polyester plastics such as polyethylene terephthalate sold under the trademark EASTAPAK polymers; and fibers.
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How we found the Chart of the Day:

We found the "Chart of the Day" by scanning the Barchart "All-Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All-Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new all-time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Hold
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 96% Buy


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