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Watch for Owens-Illinois to Potentially Rebound After Falling 3.74% Yesterday

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.

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.

Over the past year, Owens-Illinois has traded in a range of $9.58 to $20.78 and is now at $10.60, 11% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 3.7%.

Keywords: rebounders owens-illinois

Ticker(s): OI