The Greedy Trader Weekly Analysis
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Archive
- 11/2/2018
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Owens-Illinois Inc.
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Summary:
Weekly :Relative Strength Index and Lane's Stochastic bullish divergence
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SARBullish Three Inside Up CandlestickThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Owens-Illinois Inc. (OI). During the week, the OI gained 0.99 points, or 5.95%, and closed at 17.62 on Friday, November 02, 2018. It was the best weekly gain since September 14, 2018. Weekly volume was 58% above average.

Long-term trend: [See OI long-term trend chart]
A long-term downtrend had started on October 11, 2017 at 25.90 and reached 15.67 on October 31, 2018. OI lost 10.23 points, or 39.50%, in 55 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 12.40 and resistance is at 19.46. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See OI medium-term trend chart]
A medium-term downtrend had started on September 20, 2018 at 20.22 and reached 15.67 on October 31, 2018. OI lost 4.55 points, or 22.50%, in 5 weeks. The price is now at the 42.86% retracement level.

Weekly Technical Indicators: [See OI weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Relative Strength Index and Lane's Stochastic have bullish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The weekly MACD line is above its signal line since July 27, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See OI short-term trend chart]
A short-term uptrend had started on October 31, 2018 at 15.67 and reached 17.96 on November 2, 2018. OI gained -2.29 points, or -14.61%, in 2 days. The price is now at the 14.85% retracement level.

Daily Technical Indicators: [See OI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since September 27, 2018. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See OI candlestick chart pattern]
On Friday the chart has formed a Bullish Three Inside Up Candlestick pattern. The Bullish Three Inside Up pattern is another name for the Confirmed Bullish Harami pattern; it occurs in a downtrend , and it is an early signal that a bullish reversal is in play. The reliability of the Bullish Three Inside Up pattern is very high. Use the Technical Stock Screener to see the list of stocks that had a Bullish Three Inside Up Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.13
Williams' Percentage Range (W%R) 65.70
Lane's Stochastic (%D-Slow) 33.36
Greed/Fear Indicator (GFI) 38.61
Moving Average Converg./Diverg. (MACD) -0.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.13
Bullish
Williams' Percentage Range (W%R) 72.30
Lane's Stochastic (%D-Slow) 32.37
Bullish
Greed/Fear Indicator (GFI) 36.00
Moving Average Converg./Diverg. (MACD) -0.64
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 19.46
Upper Bollinger Band 19.27
50 Day Moving Average 18.18
Price 17.62
20 Day Moving Average 17.48
Weekly Stochastic Crossing 16.80
Daily Stochastic Crossing 16.57
Parabolic System 15.65
Lower Bollinger Band 15.52
Sector and Industry
Description Name Rank
Sector Consumer Goods 7
Industry Packaging & Containers 114
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 15.67
Low Date 10/31/2018
High 17.96
High Date 11/02/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.67
Low Date 10/31/2018
High 17.96
High Date 11/02/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 20.22
High Date 09/20/2018
Low 15.67
Low Date 10/31/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 19.46
Support 12.40
High 25.90
High Date 10/11/2017
Low 15.67
Low Date 10/31/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11.58
Low Date 02/03/2016
High 25.90
High Date 10/11/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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