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Olin Corp: New 52-Week Low Set Today (OLN)

By James Quinn

Shares of Olin Corp (NYSE:OLN) traded today at $15.80, breaking its 52-week low. This new low was reached on below average trading volume as 445,000 shares traded hands, while the average 30-day volume is approximately 2.5 million shares.

Olin Corporation manufactures chemicals and ammunition products. The Company manufactures and sells chlorine, caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products, and potassium hydroxide. Olin also manufactures products that include sporting ammunition, reloading components, small caliber military ammunition and industrial cartridges.

In the past 52 weeks, shares of Olin Corp have traded between the current low of $15.80 and a high of $32.00 and are now at $15.80. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.2%.

There is potential upside of 147.5% for shares of Olin Corp based on a current price of $15.80 and an average consensus analyst price target of $39.10. The stock should find initial resistance at its 50-day moving average (MA) of $20.04 and further resistance at its 200-day MA of $21.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Olin Corp on June 20th, 2019 by issuing a Downtrend alert when the shares were trading at $20.74. Since that call, shares of Olin Corp have fallen 22.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows olin corp

Ticker(s): OLN