Owens-Illinois Technical Analysis (NYSE:OI)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the Owens-Illinois stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the OI stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Owens-Illinois. The technical analysis form of Owens-Illinois stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Owens-Illinois Moving Average
Moving averages help predict the price direction of OI stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $21.84 is below the last closing price of $22.51 and the 50 day moving average of $22.2 is below the last closing price of $22.51. The 10 and 20 day periods can predict short term moving average trends.
Owens-Illinois Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the OI stock. The stock price is trading between the average and the upper band in the context of Owens-Illinois bollinger bands.
Owens-Illinois Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The Owens-Illinois MACD line is below the signal line.
Owens-Illinois Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of OI stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.