Eastman has spent most of 2013 forming a rounding bottom pattern, consolidating under $74 resistance since February before finally breaking out at the start of June. That breakout has been pretty tepid so far, but as shares throw back to test newfound support at $74, buyers are getting a second chance to buy at a lower level. A throwback happens when a stock moves back down to test newfound support at its former breakout level - in this case at $74. And while throwbacks look ominous, they're actually constructive for stock prices because they re-verify the stock's ability to catch a bid at support.If you decide to buy the bounce, I'd suggest keeping a protective stop at 50-day moving average. To see this week's trades in action, check out this week's Must-See Charts portfolio on Stockpickr.-- Written by Jonas Elmerraji in Baltimore.
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