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Watch for Continued Losses in Shares of Owens-Illinois (OI)

By Shiri Gupta

Shares of Owens-Illinois (NYSE:OI) traded at a new 52-week low today of $10.17. Approximately 100,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.

Owens-Illinois share prices have moved between a 52-week high of $20.78 and the current low of $10.17 and are currently at $10.17 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 0.7%.

Owens-Illinois has overhead space with shares priced $10.17, or 60.4% below the average consensus analyst price target of $25.68. The stock should find initial resistance at its 50-day moving average (MA) of $15.28 and further resistance at its 200-day MA of $17.61.

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 August 1st, 2019 by issuing a Downtrend alert when the shares were trading at $13.78. Since that call, shares of Owens-Illinois have fallen 24.8%. 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