Bearish Moving Average Cross by Owens Corning (OC)
Owens Corning (NYSE:OC) crossed under its 10-day moving average of $41.54 on a volume of 152K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Owens Corning share prices have moved between a 52-week high of $42.80 and a 52-week low of $25.70 and are now trading 61% above that low price at $41.34 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has risen 0.6%.
SmarTrend recommended that subscribers consider buying shares of Owens Corning on October 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.05. Since that recommendation, shares of Owens Corning have risen 26.1%. 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