Owens Corning Inc Stock Forecast
Owens Corning Inc stock price ended at $168.37 on Tuesday, after gaining 0.477%.
(Updated on Jul 02, 2024)
The Owens Corning Inc stock price gained 0.477% on the last trading day (Tuesday, 2nd Jul 2024), rising from $167.57 to $168.37. During the last trading day the stock fluctuated 1.79% from a day low at $166.19 to a day high of $169.16. The price has been going up and down for this period, and there has been a -4.96% loss for the last 2 weeks. Volume fell on the last day by -316 thousand shares and in total, 537 thousand shares were bought and sold for approximately $90.37 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $167.75 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.53% during the next 3 months and, with a 90% probability hold a price between $178.71 and $198.09 at the end of this 3-month period.
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OC Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.477%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Owens Corning Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $172.40 and $176.61. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Wednesday, June 12, 2024 with a target of $176.51. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Owens Corning Inc stock
Owens Corning Inc finds support from accumulated volume at $167.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.97 between high and low, or 1.79%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Owens Corning Inc to open at $167.91, and during the day (based on 14 day Average True Range), to move between $163.71 and $173.03, which gives a possible trading interval of +/-$4.66 (+/-2.77%) up or down from last closing price. If Owens Corning Inc takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $167.57 (0.48%) than the resistance at $173.72 (3.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Owens Corning Inc stock A Buy?
The Owens Corning Inc stock holds several negative signals and despite the positive trend, we believe Owens Corning Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.241 Sell Candidate Unchanged
Predicted Opening Price for Owens Corning Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $167.91 ( 0.275%) | $168.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 170.88 | 1.49% |
| R2 | 169.74 | 0.81% |
| R1 | 169.04 | 0.399% |
| Price | 168.37 | |
| S1 | 166.77 | -0.95% |
| S2 | 166.07 | -1.37% |
| S3 | 164.94 | -2.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 181.07 | 7.54% |
| R2 | 177.70 | 5.54% |
| R1 | 173.72 | 3.18% |
| Price | 168.37 | |
| S1 | 167.57 | -0.475% |
| S2 | 165.22 | -1.87% |
| S3 | 160.52 | -4.66% |
OC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Aug 02, 2024 | $0.600 | 0.356% |
| 2 | Feb 01, 2024 | Mar 04, 2024 | Apr 04, 2024 | $0.600 | 0.355% |
| 3 | Feb 01, 2024 | Mar 01, 2024 | Apr 04, 2024 | $0.600 | 0.355% |
| 4 | Jan 05, 2024 | Jan 05, 2024 | Jan 19, 2024 | $0.600 | 0.398% |
| 5 | Sep 14, 2023 | Oct 13, 2023 | Nov 03, 2023 | $0.520 | 0.424% |
FAQ
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