• Return to Headlines

Owens-Illinois Set to Possibly Rebound After Yesterday's Selloff of 3.74%

By Shiri Gupta

Owens-Illinois (NYSE:OI) traded in a range yesterday that spanned from a low of $10.19 to a high of $10.64. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $10.20 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Owens-Illinois share prices have been bracketed by a low of $9.58 and a high of $20.78 and are now at $10.60, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.7% while the 200-day MA has slid 0.9%.

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 20.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders owens-illinois

Ticker(s): OI