The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $3.8 million following the completion of this transaction.
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Also, Sutton Scott McDougald sold 16,924 shares, netting a total of over 889,558 in proceeds. Following the sale of shares at $52.56 each, the insider now holds 90,327 shares.
Before that, FLAUGHER BRETT A had sold 15,000 shares from its account. In a trade valued at $786,867, the VP & Pres, Winchester traded Olin Corp. shares for $52.46 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $0.37 million.
As published in their initiating research note from Mizuho on August 08, 2024, Olin Corp. [OLN] has been a Neutral and the price target has been revised to $45. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late July. As of July 29, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for OLN. Earlier on December 07, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for OLN stock.
Analyzing OLN Stock Performance
During the last five days, there has been a surge of approximately 2.46%. Over the course of the year, Olin Corp. shares have dropped approximately -22.08%. Shares of the company reached a 52-week high of $60.60 on 04/04/24 and a 52-week low of $40.26 on 08/13/24. A 50-day SMA is recorded $46.71, while a 200-day SMA reached $51.05. Nevertheless, trading volume fell to 0.92 million shares from 1.43 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 41.68, which, if violated, would cause prices to drop to 41.32. In the upper region, resistance lies at 42.28. The next price resistance is at 42.52. RSI (Relative Strength Index) is 38.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 72.40%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
