Eastman Kodak Company (Kodak) provides imaging technology products and services to the photographic and graphic communications markets.
EK bounced nicely off its 50% Fibonacci Retracement level of 4.63 today, September 25 2009. Calculate these levels from trading low of 2.44 and a high of 6.82.
After trading to a low of 4.6, EK traded to a high of 4.96 its five minute 200 day moving average. I think this trade will continue lower to its 62% retracement level of 4.113, however if the market rebounds this coming week. The low of 4.61 could hold and the trade from this level could reach 5.25 or 5.65 before retracing. Watch for resistance at 5.12, the 30 minute trading time frame 50 day moving average and keep your stop loss at appropriate levels.