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Upgrade Alert for Olin (OLN)

By David Diaz

Olin (NYSE:OLN) was upgraded from Market Perform to Outperform at Cowen and Company today. The stock closed yesterday at $23.06 on volume of 3.3 million shares, below average daily volume of 3.7 million.

Olin Corporation manufactures chemicals and ammunition products. The Company manufactures and sells chlorine, caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products, and potassium hydroxide. Olin also manufactures products that include sporting ammunition, reloading components, small caliber military ammunition and industrial cartridges.

Olin (NYSE:OLN) defies analysts with a current price ($23.06) 0.5% above its average consensus price target of $22.94. The stock should discover initial support at its 200-day moving average (MA) of $18.34 and subsequent support at its 50-day MA of $17.88.

Olin share prices have moved between a 52-week high of $31.14 and a 52-week low of $12.29 and closed yesterday at 88% above that low price at $23.06 per share. The 200-day and 50-day moving averages have moved 0.22% lower and 3.26% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Olin on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.20. Since that recommendation, shares of Olin have risen 41.9%. We continue to monitor OLN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades olin

Ticker(s): OLN