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Owens Corning Falls 1.33% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Owens Corning (NYSE:OC) traded in a range yesterday that spanned from a low of $64.20 to a high of $66.65. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $65.22 on volume of 240,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Owens Corning has traded in a range of $40.64 to $68.72 and is now at $65.46, 61% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Owens Corning and will alert subscribers who have OC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Owens Corning

Ticker(s): OC