After a rebound without fundamental improvements, the security might have a new bearish trend toward the USD 68.6 support area.

From a fundamental viewpoint, analysts have revised downward their EPS estimations in particular during the last month. This situation could lead to some profit taking in the short run.

From a technical viewpoint, the security is in a bearish trend in the long and mid-term, even if prices have increased in the short term. The current technical rebound allows the stock to be close to its USD 76.8 resistance. Moreover, prices are still under the 20-day moving average and it applies pressure on the stock. Despite the breakout of 20-day moving average, prices should decrease soon because of the bearish trend in the mid term.

The bearish trend and fragile fundamentals let think about a continuation of the downtrend. The entry point could be fixed close to the USD 76.8 resistance for getting short on Eastman Chemical Company. The target price will be the mid-term support area at USD 68.65 and a stop loss order must be placed above USD 76.8.