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Watch for Owens-Illinois to Potentially Rebound After Falling 3.47% Yesterday

By Nick Russo

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.

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.

Owens-Illinois share prices have moved between a 52-week high of $20.78 and a 52-week low of $8.26 and are now trading 53% above that low price at $12.65 per share. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 4.6%.

Keywords: rebounders owens-illinois

Ticker(s): OI