BUY! EASTMAN CHEMICAL CO (EMN) NYSE

  Report No. 1995    Analysis by: Harry Aloof     MAY 5, 2004

EASTMAN CHEMICAL CO (EMN-NYSE): Technical Viewpoint: From a low of $38.63 on Mar 22, 2004 prices rallied, reaching a high of $44.10 on Apr 23, 2004. A decline saw prices pull back, reaching a low of $41.97 on Apr 29, 2004. Another rally saw prices penetrate resistance, closing 5/4/04 at $44.20. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Mar 29, 2004 when the Histogram crossed the "0" line to the upside. Support: Remains at $42.38. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 30, 2004. A P&F upside reversal takes place at $43.00. Summary: Technical indicators have turned bullish. BUY! EASTMAN CHEMICAL CO (EMN-NYSE) @ $44.63 Stop: Use a protective stop of $42.63. EASTMAN CHEMICAL CO is currently trading @ $44.20 plus $1.20 on May 4, 2004. Price Objective: $55.50. Risk/Reward: $2.00 VS. $10.87. Today's Risk Reward Ratio: 5:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$55.50 Risk/Reward:
$2.00 VS. $10.87 Risk/Reward Ratio:
5:1
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