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Owens-Illinois: The Losing Streak Continues (OI)

By Amy Schwartz

Owens-Illinois (NYSE:OI) traded at a new 52-week low today of $17.62. This new low was reached on below average trading volume as 796,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Owens-Illinois has overhead space with shares priced $17.72, or 31.0% below the average consensus analyst price target of $25.68. The stock should find initial resistance at its 50-day moving average (MA) of $19.70 and further resistance at its 200-day MA of $22.34.

Owens-Illinois, Inc. manufactures glass packaging products. The Company produces glass containers for malt beverages, including beer and ready-to-drink low-alcohol refreshers, liquor, wine, food, tea, juice, and pharmaceuticals. Owens-Illinois sells its products to customers around the world.

In the past 52 weeks, shares of Owens-Illinois have traded between the current low of $17.62 and a high of $25.90 and are now at $17.72. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens-Illinois on March 28th, 2018 by issuing a Downtrend alert when the shares were trading at $21.36. Since that call, shares of Owens-Illinois have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows owens-illinois

Ticker(s): OI