StockCall Early Morning Insight into Eastman Chemical, Rentech, and Ashland

 StockCall Early Morning Insight into Eastman Chemical, Rentech, and Ashland

Chemical Stocks Remain Range-bound

PR Newswire

LONDON, March 1, 2013

LONDON, March 1, 2013 /PRNewswire/ --

With the fear of Sequestration still looming around, the markets gave up their
early day's gains to end the session in the red zone. A report also suggested
that following spending cuts by companies, the economy grew at a slow rate
during the fourth quarter. The Dow Jones ended the day 0.15 percent lower at
14,054.49, while the S&P 500 closed at 1,514.68, down 0.09 percent. NASDAQ
also followed suit to end the day at 3,160.19, down 0.07 percent. Our research
team took a closer look at the chemical sector and selected major companies
like Eastman Chemical Company (NYSE: EMN), Rentech Inc. (NYSE: RTK) and
Ashland Inc. (NYSE: ASH) for review. StockCall has issued technical analysis
and charting reports on EMN, RTK and ASH. Download these free reports now at

Eastman Chemical's stock closed at $69.73, 1.50 percent down. The stock traded
in the range of $69.72 and $71.22 during the session and is currently below it
20-day moving average price of $69.95. Eastman Chemical gained 2.47 percent so
far this year. Its Price/Earnings ratio is 22.94. The company's stock is in a
neutral phase and its first resistance level is at $71.03. On the downside,
its first support is at $69.61. Upon breaching this level, its second support
level is at $60.96. Download the free research on EMN today by registering at 

With a sharp upward movement in its previous trading session, Rentech is up
3.8 percent for the year. It has gained 49.18 percent in the past 52 weeks.
The stock closed 3.8 percent higher at $2.73 on volume of 8.17 million shares.
Its average trading volume stands at 2.65 million shares. Rentech's shares
currently face resistance at around $2.80. The stock has support at around
$2.67. It is currently trading below its 20-day and 50-day moving averages,
which is a neutral signal. The company's traded in the range of $1.60 and
$3.18 in the previous 52 weeks. Sign up and have access to our free report on
RTK at 

Ashland traded in the range of $77.73 and $78.66 during its previous trading
session. It opened at $78.42 and closed at $77.97, down 0.52 percent. The
stock is currently in a neutral mode and has its first resistance level at
$78.77. Upon breaching this level, Ashland may go as high as $80.70. It traded
926,000 shares and it is below its 20-day moving average price. Its first
support level is at $77.74. So far in 2013, the stock is down 3.03 percent,
while it gained 23.64 percent in the past 52 weeks. It is trading at
Price/Earnings ratio of 86.63 and its beta stands at 2.73. Sign up and read
the complimentary report on ASH at 

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