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Owens-Illinois Bearish Moving Average Crossover Alert (OI)

By James Quinn

Owens-Illinois (NYSE:OI) shares have crossed bearishly below their 10-day moving average of $10.55 on a volume of 590K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

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 $10.31, 8% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4.7%.

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 20.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses owens-illinois

Ticker(s): OI