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Olin Bearish Moving Average Crossover Alert (OLN)

By Shiri Gupta

Olin (NYSE:OLN) crossed under its 10-day moving average of $23.88 on a volume of 259K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Olin share prices have been bracketed by a low of $12.29 and a high of $31.14 and are now at $23.51, 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.3% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of Olin on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.20. Since that recommendation, shares of Olin have risen 58.3%. We continue to monitor OLN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses olin

Ticker(s): OLN