OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday Oct 19th is Eastman Chemical (EMN). EMN is part of the Materials Sector (XLB). Over the last month, XLB has experienced a 2.38% move higher and its 1m and 6m trend has turned bullish on 8/30 and recently broke above its $58 resistance level.

Eastman Chemical’s 1m and 6m trends turned bullish on 8/23 and recently bounced higher above its $87 support level. With a technical score of 6 (out of 10), EMN is a strong bullish stock that looks to continue higher.

View this Trade Idea on EMN

As a stop loss, if EMN was to trade below $87 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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