Eastman Kodak Co. traded lower today, even after a Barron’s article talked of buy-out rumors possibly being in play for the company.
Apparently speculative good news is not as welcomed for EK as no news at all, being that last week EK traded up 12% with no particular news flashes of importance.
Aside from the usual argument of news flow being secondary to technical indicators, more importantly, EK has traded to the projected 5.05 level today. This level, as well as the 4.80 price target, should be watched as a possible support levels to the 5.73 near term price target mentioned last week.