Owens Corning Inc (OC) : Traders are bullish on Owens Corning Inc (OC) as it has outperformed the S&P 500 by a wide margin of 3.99% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.36%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.87% in the last 1 week, and is up 3.85% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.55% and the 50-Day Moving Average is 3.7%.The 200 Day SMA reached 14.54%. Owens Corning is up 10.29% in the last 3-month period. Year-to-Date the stock performance stands at 18.92%.
Owens Corning Inc (NYSE:OC): After opening at $55.22, the stock dipped to an intraday low of $55.05 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $55.87 and the buying power remained strong till the end. The stock closed at $55.52 for the day, a gain of 0.60% for the day session. The total traded volume was 655,725. The stocks close on the previous trading day was $55.19.
Owens Corning is a holding company. The Company is engaged in composite and building materials systems. The Companys products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind energy and other markets to insulation and roofing for residential, commercial and industrial applications. The Company operates under three segments: Composites, Insulation and Roofing. The Composites segment is comprised of the Companys Reinforcements and Downstream businesses. Insulation segment includes products, such as thermal and acoustical batts, loosefill insulation, foam sheathing and accessories. The Roofing segment includes products, such as laminate and strip asphalt roofing shingles. The Companys subsidiaries are Owens Corning Sales, LLC and Owens Corning Receivables LLC.