Kiwi Tigress
08-02

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@Barcode：$Eastman Chemical(EMN)$ 📉💥🧪 EMN breaks down: chemical crash, brutal earnings, and no support in sight 💥🧪📉 I’m absolutely stunned by the velocity and magnitude of the collapse in Eastman Chemical ($EMN). We’re witnessing one of the worst single-day declines in the S&P 500 this year, and arguably one of the most structurally damaging breakdowns of the earnings season. The stock plunged 20.5% to $57.10, slicing through the $70 support shelf like it didn’t exist. That puts $EMN at a new five-year low and down over 43% year-on-year. It’s now pacing for its worst day ever. This is not just about numbers; it’s about a complete repricing of credibility, guidance, and demand trajectory. In an environment where chemicals are used in nearly every end-market from autos to packaging to semiconductors, this move speaks volumes about downstream industrial stress and softening demand expectations. I’m particularly alarmed by the momentum profile. The 4H chart shows an accelerated breakdown through both Keltner and Bollinger bands, with candles falling completely outside of the lower bands, indicating disorderly liquidation. Volume surged to over 2.7 million shares, confirming institutional-level exit velocity. The 50MA ($77.83) and 200MA ($89.45) are now laughably above current price, and the divergence suggests a long-term trend invalidation. Weekly indicators paint a similarly bleak picture. The RSI is sitting at 15.03, deeply oversold, and MACD shows a sharp bearish crossover with DIF at -5.3369 and DEA at -4.6466. These aren’t just weak signals; they are technical red flags screaming trend exhaustion with no reversal setup in sight. Zooming out further, the long-term chart reveals a catastrophic double-top failure from the 2021 to 2022 highs of $130.47, completing a multi-year round trip back toward the 2020 pandemic low of $34.44. The $52.69 historical floor is now the next line of defense. If breached, we could be revisiting levels not seen since 2016. What’s particularly unnerving is that despite the plunge, analyst sentiment hadn’t fully priced this in. According to FactSet, the average rating on EMN is still “Overweight,” with a mean price target of $91.59. That implies an upside of over 59% from here; yet the market clearly disagrees. The fundamental dislocation between projected value and price action speaks volumes about just how shaken confidence is. This wasn’t just a bad quarter; it was a credibility shock. Eastman’s Q2 earnings bombshell not only missed across the board but was accompanied by a slashed forward guide, triggering a total collapse in technical structure and investor trust. The lack of institutional bids at key levels underscores the loss of support from the buy-side. I am extremely cautious here. While RSI this low may tempt contrarians, I see no catalyst for mean reversion without a change in tone from management or a sharp reversal in macro data. Momentum has flipped from compression to expansion, in the wrong direction. Is $EMN a warning sign for industrial cyclicals more broadly, or an isolated blow-up in execution? I’ll be watching closely to see if this triggers sympathy moves in $LIN, $DOW, and $CC. 📢 Don’t miss out! Like, Repost and Follow me for exclusive setups, cutting-edge trends, and insights that move markets 🚀📈 I’m obsessed with hunting down the next big movers and sharing strategies that crush it. Let’s outsmart the market and stack those gains together! 🍀 Trade like a boss! Happy trading ahead, Cheers, BC 📈🚀🍀🍀🍀 @Tiger_comments @TigerPicks @TigerStars @TigerWire
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