Eastman EMN Stock & Option Trade Ideas

Based on the technical data for EMN:

• The MACD (Moving Average Convergence Divergence) crossed below the Signal Line, indicating a potential bearish signal.
• The RSI (Relative Strength Index) is currently below 70, suggesting the stock is not overbought.
• The Bollinger Bands show the stock price is currently trading close to the upper band, which may indicate a near-term pullback.
• The stock price has been fluctuating in a narrow range recently.

Considering the above indicators, here are potential stock and option trading strategies for EMN:

• Stock Trade: Given the potential bearish signal from the MACD and the RSI not being in overbought territory, a conservative approach would be to wait for further confirmation before taking a short position. Traders could consider shorting the stock if it breaks below key support levels.
• Option Trade: Options traders could consider a bearish strategy such as buying put options or using bear put spreads. These strategies would benefit from a potential downward movement in the stock price. Traders should consider selecting options with an expiration date that aligns with their anticipated timeframe for the stock to move bearishly.