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Watch for Shares of Owens-Illinois (OI) to Approach Resistance at $10.87

By David Diaz

Shares of Owens-Illinois (NYSE:OI) have bullishly opened above the pivot of $10.42 today and have reached the first resistance level of $10.66. Analysts will be watching for a cross of the next upside pivot targets of $10.87 and $11.32.

Owens-Illinois share prices have moved between a 52-week high of $20.78 and a 52-week low of $9.58 and are now trading 13% above that low price at $10.82 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 3.7%.

There is potential upside of 137.2% for shares of Owens-Illinois based on a current price of $10.82 and an average consensus analyst price target of $25.68. Owens-Illinois shares should first meet resistance at the 50-day moving average (MA) of $13.88 and find additional resistance at the 200-day MA of $17.25.

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 24.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts owens-illinois

Ticker(s): OI