OI - Owens-Illinois Inc Mon 27'th Feb 2017
Stock analysis for Mon 27'th Feb 2017 (Updated daily)
Buy candidate since 2017-02-23
Owens-Illinois Inc Stock Analysis
Owens-Illinois Inc gained 0.45% in the last trading day, rising from USD 19.98 to USD 20.07. The price has fallen in 6 of the last 10 days , but is still up by 0.96% over the past 2 weeks. Volume fell in the last day by -0.32 million shares and ,in total, 1.11 million shares bought and sold for approximately USD 22.27 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
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 12.3% during the next 3 months and, with 90% probability hold a price between USD 21.12 and USD 23.11 at the end of this period.
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 19.78 and USD 19.42. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday February 17, 2017, which indicates further gains 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 may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 18.52 and USD 18.40. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Owens-Illinois Inc finds support just below today's level at 18.52. If this is broken, then the next support from accumulated volume will be at 18.40 and 18.37.
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 0.35 (1.76%) between high and low. For the last week, the stock has had a daily average volatility of 2.19%.
Our recommended stoploss: USD 19.18 (-4.43%) ( criteria: risk and position in trend)
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.