Trend: DamagedEntry: NeutralRelative strength: DeterioratingRisk: High
ATR 4.8% · 1Y DD 66% · 4 dist days · 20 gaps
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The long-term picture is weak. The stock is trading below a falling 200-day moving average — the market's long-term memory is pointing down, meaning sellers have been in control and that hasn't changed. The stock is lagging the S&P 500, meaning investors would have earned better returns simply owning the index. The first area where the chart starts to improve is near the 50-day average at $6, where sustained buying would suggest confidence is returning. The bigger test is reclaiming the 200-day at $10. Until the stock can move above that level and stay there, the long-term trend remains unproven. Risk state is high: ATR 4.8% · 1Y DD 66% · 4 dist days · 20 gaps.
O-I Glass, Inc., through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. In addition, the company offers glass containers in a range of sizes, shapes, and colors. It sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. The company was formerly known as Owens-Illinois, Inc. and changed its name to O-I Glass, Inc. in December 2019. O-I Glass, Inc. was founded in 1903 and is based in Perrysburg, Ohio.
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$OI
O I GLASS