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Owens Corning [OC] Records 50-Day SMA of $167.82

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Owens Corning shares valued at $518,500 were sold by Sandri Marcio A on Sep 17 ’24. At $170.00 per share, Sandri Marcio A sold 3,050 shares. The insider’s holdings dropped to 60,130 shares worth approximately $10.71 million following the completion of this transaction.

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Also, Sandri Marcio A purchased 3,051 shares, netting a total of over 538,502 in proceeds.

Before that, Sandri Marcio A had added 3,050 shares to its account. In a trade valued at $518,500, the Officer bought Owens Corning shares for $170.00 each.

As published in a research note from Citigroup on July 11, 2024, Owens Corning [OC] has been rated up from a Neutral to a Buy and the price target has been revised to $191 from $178. Earlier on May 21, 2024, RBC Capital Mkts resumed its rating. Their recommendation was “an Outperform” for OC stock.

Analyzing OC Stock Performance

During the last five days, there has been a surge of approximately 10.17%. Over the course of the year, Owens Corning shares have jumped approximately 20.18%. Shares of the company reached a 52-week high of $191.13 on 08/01/24 and a 52-week low of $138.70 on 02/20/24. A 50-day SMA is recorded $167.82, while a 200-day SMA reached $162.76. Nevertheless, trading volume fell to 0.81 million shares from 0.96 million shares the previous day.

Support And Resistance Levels for Owens Corning (OC)

According to the 24-hour chart, there is a support level at 175.36, which, if violated, would cause prices to drop to 172.56. In the upper region, resistance lies at 180.27. The next price resistance is at 182.38. RSI (Relative Strength Index) is 67.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.83, which suggests the price will increase in the coming days. Percent R is at 5.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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