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Watch for Owens-Illinois to Potentially Pullback After Gaining 1.66% Yesterday

By David Diaz

Owens-Illinois (NYSE:OI) traded in a range yesterday that spanned from a low of $22.91 to a high of $23.45. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $23.05 on volume of 620,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Owens-Illinois have traded between a low of $16.18 and a high of $25.90 and are now at $23.27, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has slid 0.3%.

SmarTrend is monitoring the recent change of momentum in Owens-Illinois. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Owens-Illinois in search of a potential trend change.

Keywords: rebounders owens-illinois

Ticker(s): OI