Tuesday, May 04, 2010

Eastman Kodak Company Falls Precipitously

One of the weakest stocks today in the S&P500 was Eastman Kodak Company (EK) which was down 6.77%. This stock has lost more than a  third of its value in just one week!

Looking at the above daily chart of Eastman Kodak Company you'll notice two very significant support levels that come into play not too far from where we are trading now.. First we have trendline support  which comes in at $5.50 and we also have the 200 day moving average coming in around the 5.00 area.  So basically the $5.00 to $5.50 area should provide some kind of support for Eastman Kodak Company. If this area is taken out, the most likely downside target would be the low from last November. Let's see what happens.

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