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Owens-Illinois Crosses Above its 10-day MA (OI)

By Shiri Gupta

Today, shares of Owens-Illinois (NYSE:OI) have advanced above their 10-day MA of $24.43 on a volume of 398K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Owens-Illinois has traded in a range of $16.18 to $25.02 and is now at $24.83, 53% above that low. The 200-day and 50-day moving averages have moved 0.32% lower and 2.08% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Owens-Illinois on July 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.17. Since that recommendation, shares of Owens-Illinois have risen 24.6%. 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

Ticker(s): OI