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TMCNet:  Owens Corning Rises 1.85% on Heavy Volume: Watch For Potential Pullback

[January 09, 2013]

Owens Corning Rises 1.85% on Heavy Volume: Watch For Potential Pullback

Jan 09, 2013 (SmarTrend(R) News Watch via COMTEX) -- Owens Corning (NYSE:OC) traded in a range yesterday that spanned from a low of $38.66 to a high of $39.73. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $38.83 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Owens Corning share prices have moved between a 52-week high of $39.73 and a 52-week low of $25.70 and are now trading 52% above that low price at $39.14 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Owens Corning on October 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.05. Since that recommendation, shares of Owens Corning have risen 16.3%. We continue to monitor OC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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