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Owens-Illinois: New 52-Week Low Set Today (OI)

By David Diaz

Shares of Owens-Illinois (NYSE:OI) traded today at $15.31, breaking its 52-week low. Approximately 967,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.

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, Owens-Illinois share prices have been bracketed by a current low of $15.31 and a high of $26.62 and are now at $15.65. The 200-day and 50-day moving averages have moved 0.76% lower and 3.4% lower over the past week, respectively.

There is potential upside of 59.7% for shares of Owens-Illinois based on a current price of $15.65 and an average consensus analyst price target of $25.00. The stock should find initial resistance at its 50-day moving average (MA) of $19.00 and further resistance at its 200-day MA of $21.86.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens-Illinois on October 29th, 2015 by issuing a Downtrend alert when the shares were trading at $21.60. Since that call, shares of Owens-Illinois have fallen 26.6%. 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