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Bearish Moving Average Cross by Owens Corning (OC)

By Amy Schwartz

Today, shares of Owens Corning (NYSE:OC) have fallen below their 10-day MA of $40.10 on a volume of 529K 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, Owens Corning share prices have been bracketed by a low of $28.38 and a high of $46.64 and are now at $39.97, 41% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 1.02% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Owens Corning on January 7th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.70. Since that recommendation, shares of Owens Corning have risen 9.6%. 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