O-I GLASS INC (OI) Stock Technical Analysis
NYSE:OI - New York Stock Exchange, Inc. - US67098H1041 - Common Stock - Currency: USD
Overall OI gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, OI is showing a nice and steady performance.
Besides having an excellent technical rating, OI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 15.68. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for OI in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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10.88
We found 3 important support areas.
- A support zone ranging from 14.70 to 14.81. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @13.50 from a horizontal line in the daily time frame.
- Support @10.99 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 15.68 to 15.81. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for OI is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OI is up. |
| ChartMill Relative Strength | 89.8 | POSITIVE | OI has a high relative strength, it outperformed 89.8% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.58 | NEUTRAL | The RSI value for OI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests OI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.65 | NEUTRAL | The Stochastics value for OI is a neutral value. |
| Average True Range in percent/ATR (20) | 3.01 | MEDIUM VOLATILITY | The ATR as a percentage value for OI suggests some volalility. |
| Average Directional Index/ADX (14) | 36.29 | POSITIVE | The high ADX value value for OI suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.82 | 14.69 | 1.13 (7.14%) | 14.00% |
| An entry @15.82. This is a Buy Stop order right above the resistance zone. | An exit @14.69. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.13 points, which is 7.14%. | When investing 14.00% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
15.41
-0.12 (-0.77%)