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Bearish Moving Average Cross by Owens Corning (OC)

By David Diaz

Today, shares of Owens Corning (NYSE:OC) have crossed bearishly below their 10-day moving average of $51.06 on a volume of 1.0 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Owens Corning have traded between a low of $37.29 and a high of $52.52 and are now at $49.74, which is 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Owens Corning on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.03. Since that recommendation, shares of Owens Corning have risen 17.4%. We continue to monitor OC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Owens Corning

Ticker(s): OC