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Olin Corp. [NYSE: OLN] Sees Decrease in Stock Value

ZOM Stock

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Olin Corp. shares valued at $2,561,516 were sold by Sutton Scott McDougald on Feb 27 ’24. At $52.39 per share, Sutton Scott McDougald sold 48,896 shares. The insider’s holdings dropped to 90,327 shares worth approximately $4.7 million following the completion of this transaction.

Also, FLAUGHER BRETT A sold 10,000 shares, netting a total of over 521,988 in proceeds. Following the sale of shares at $52.20 each, the insider now holds 77,763 shares.

Before that, Sutton Scott McDougald had sold 16,924 shares from its account. In a trade valued at $889,558, the President & CEO traded Olin Corp. shares for $52.56 each. Upon closing the transaction, the insider’s holdings decreased to 16,924 shares, worth approximately $4.7 million.

As published in their initiating research note from Deutsche Bank on December 07, 2023, Olin Corp. [OLN] has been a Hold and the price target has been revised to $52. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid November. As of October 30, 2023, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for OLN. Earlier on October 11, 2023, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for OLN stock which previously was a “an Overweight”.

Analyzing OLN Stock Performance

During the last five days, there has been a drop of approximately -1.90%. Over the course of the year, Olin Corp. shares have dropped approximately -3.50%. Shares of the company reached a 52-week high of $60.60 on 04/04/24 and a 52-week low of $49.60 on 02/05/24. A 50-day SMA is recorded $55.53, while a 200-day SMA reached $52.14. Nevertheless, trading volume fell to 1.32 million shares from 1.23 million shares the previous day.

Support And Resistance Levels for Olin Corp. (OLN)

According to the 24-hour chart, there is a support level at 51.56, which, if violated, would cause prices to drop to 51.07. In the upper region, resistance lies at 52.90. The next price resistance is at 53.75. RSI (Relative Strength Index) is 32.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 95.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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