Eastman Kodak Co. KODK shares were trading higher Tuesday.
No company-specific news has been released to explain the rise in price. A recent 13G filing shows that GO EK Ventures IV has a 8.74% stake in the company.
Related Link: PreMarket Prep Stock Of The Day: Eastman Kodak
Kodak Technical Levels To Watch: Short term, the 1-minute chart above shows the stock has been trading in a channel in Tuesday’s session.
A resistance has held multiple times near the high of the day of $8.61.
The stock was trading 16.86% higher at $8.90 at last check.
The stock was able to find support near $8.10 a couple times before the price moved up again.
The daily chart above displays the stock trading in a channel with a top of $14 and a bottom near $7.
The $14 level has held up multiple times as resistance in the past, so it may not be too far-fetched to see this occur again in the future.
The bottom of the chart has been able to hold as a support level multiple times and could possibly do the same in the future.
Short-term technical traders would like to see the support or resistance levels break for a possible continuation in the same direction.
The long-term bullish technical trader would like to see the price break over the $14 resistance with consolidation above before another upward move occurs.
A long-term bearish technical trader would like to see the price fall below the $7 support with consolidation before a downward move might continue.
Eastman Kodak are trading with a market cap of $373 million and a public float of 43.7 million shares.
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