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After Yesterday's Decline of 3.47%, Owens-Illinois Offers Investors Better Value

By Shiri Gupta

Owens-Illinois (NYSE:OI) traded in a range yesterday that spanned from a low of $12.46 to a high of $12.96. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $12.88 on volume of 880,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Owens-Illinois have traded between a low of $8.26 and a high of $20.78 and are now at $12.65, which is 53% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 4.6%.

SmarTrend recommended that subscribers consider buying shares of Owens-Illinois on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.84. Since that recommendation, shares of Owens-Illinois have risen 19.4%. We continue to monitor OI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders owens-illinois

Ticker(s): OI