• Return to Headlines

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

By David Diaz

Owens-Illinois (NYSE:OI) traded at a new 52-week low today of $16.61. Approximately 197,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.

Owens-Illinois has overhead space with shares priced $16.66, or 35.1% below the average consensus analyst price target of $25.68. Owens-Illinois shares should first meet resistance at the 50-day moving average (MA) of $19.02 and find additional resistance at the 200-day MA of $22.05.

Over the past year, Owens-Illinoishas traded in a range of $16.61 to $25.90 and are now at $16.66. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.4%.

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 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 20.8%. 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