Eastman Chemical Co. stock trades under the ticker EMN & has shown recent bullishness that traders & investors should look deeper into to find opportunities for when market volatility has subsided.
EMN stock closed at $81.00/share on 5/17/2023.
Eastman Chemical CO. EMN Stock’s Technical Performance Broken Down
EMN Stock Price: $81.00
10 Day Moving Average: $79.75
50 Day Moving Average: $81.25
200 Day Moving Average: $83.05
RSI: 50.87
MACD: -0.641, -0.647, 0.007
Yesterday, EMN stock completed a bullish MACD crossover, gaining +2.78% on the day’s session.
Their RSI is neutral at 50.87 & recent trading volumes have been about average compared to the year prior.
Investors would be wise to watch how they behave around their support levels in the near-term while planning an entry point for when markets have become less volatile, while traders can use options in the meantime to profit from their price movements.
EMN stock has support at the $80.83, $80.59, $80.28 & $79.75/share (10 day moving average) price levels, with resistance at the $81.25 (50 day moving average), $81.94, $82.60 & $83.10/share price levels.
Eastman Chemical CO. EMN Stock As A Long-Term Investment
Long-term oriented investors will like EMN stock’s 14.86 P/E (ttm) & their 1.95 P/B (mrq).
They recently reported -11.1% Quarterly Revenue Growth Y-o-Y, with -43% Quarterly Earnings Growth Y-o-Y, which should be looked further into before making an investment.
Their balance sheet will also require a more thorough review, with $559M of Total Cash (mrq) & $5.74B of Total Debt (mrq).
EMN stock pays a 3.93% dividend, which appears it should be sustainable in the long-run, with a 54.67% payout ratio.
86.2% of EMN stock’s outstanding share float is owned by institutional investors.
Eastman Chemical CO. EMN Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can use options to profit from EMN stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts with the 6/16 expiration date.
The $80, $75 & $70 call options are in-the-money, listed from highest to lowest level of open interest.
The $85, $90 & $100 puts are also all in-the-money, with the former being more liquid than the latter strikes.
Tying It All Together
EMN stock has many interesting characteristics that traders & investors will find appealing.
Investors will like their dividend yield & valuation metrics, but will want to research further into their balance sheet & recent growth metrics.
Traders will like their recent technical performance & relatively liquid options.
All-in-all, it is worth taking a closer look into EMN stock to see how it fits into your portfolio strategy for when market volatility has died down.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN EMN STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***