Buy Candidate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
0.41%
PRICE
$22.07
VOLUME
Buy
TREND
Buy
MV LONG
Buy
MV SHORT
Buy
PIVOT
Buy
MACD
Sell
Request Prediction
0.00%
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Owens-Illinois Inc Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Buy candidate since 2017-05-19 Gain 1.56%

Owens-Illinois Inc gained 0.41% in the last trading day, rising from USD 21.98 to USD 22.07 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 1.66% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.35 million more shares were traded than the day before. In total, 1.16 million shares bought and sold for approximately USD 25.57 million.

Trend

Owens-Illinois Inc lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.3% during the next 3 months and, with 90% probability hold a price between USD 23.87 and USD 25.91 at the end of this period.

Signals

Only positive signals in the chart today. Owens-Illinois Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 22.05 and USD 21.29. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday May 18, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Relative Strength Index (RSI)

RSI14 is 57 and the stock is currently not being overbought or oversold

Support & Resistance

Owens-Illinois Inc finds support from accumulated volume at USD 21.98, USD 20.09, and USD 19.46. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 22.28, USD 22.18 and USD 22.16.

The stock is about to test the resistance from accumulated volume at USD 22.28 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.18 (0.82%) between high and low. For the last week, the stock has had a daily average volatility of 2.34%.

Our recommended stoploss: USD 20.94 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 3 days ago.)

Evaluation

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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