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

By Nick Russo

Owens-Illinois (NYSE:OI) traded today at a new 52-week low of $25.99. Approximately 475,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

In the past 52 weeks, shares of Owens-Illinois have traded between the current low of $25.99 and a high of $35.94 and are now at $26.42. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.4%.

Owens-Illinois has overhead space with shares priced $26.42, or 32.8% below the average consensus analyst price target of $39.33. Owens-Illinois shares should first meet resistance at the 50-day moving average (MA) of $30.57 and find additional resistance at the 200-day MA of $32.70.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens-Illinois on July 28th, 2014 by issuing a Downtrend alert when the shares were trading at $32.96. Since that call, shares of Owens-Illinois have fallen 21.0%. 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