Owens-Illinois Bearish Moving Average Crossover Alert (OI)
Owens-Illinois (NYSE:OI) crossed under its 10-day moving average of $18.66 on a volume of 359K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Owens-Illinois share prices have moved between a 52-week high of $26.40 and a 52-week low of $11.58 and are now trading 59% above that low price at $18.45 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.1%.
SmarTrend recommended that subscribers consider buying shares of Owens-Illinois on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.01. Since that recommendation, shares of Owens-Illinois have risen 34.0%. We continue to monitor OI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses owens-illinois