OLN closes lower for the 2nd day in a row


Olin Corporation (OLN) Technical Analysis Report for Jul 31, 2020 | by Techniquant Editorial Team

Highlights

OLN closes lower for the 2nd day in a row
OLN closes within previous day's range

Overview

Moving lower for the 2nd day in a row, OLN finished the month -2.18% lower at 11.24 after losing $0.20 (-1.75%) today, significantly underperforming the S&P 500 (0.77%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.

Daily Candlestick Chart (OLN as at Jul 31, 2020):

Daily technical analysis candlestick chart for Olin Corporation (OLN) as at Jul 31, 2020

Friday's trading range has been $0.41 (3.59%), that's slightly below the last trading month's daily average range of $0.48. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for OLN.

Prices are trading close to the key technical resistance level at 11.58 (R1).

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.


Market Conditions for OLN as at Jul 31, 2020

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OLN closes within previous day's range

Aug 07, 2020
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