Short: Owens Corning (OC)
From Shortex Market Letter
52wk H. 96.52 52wk L. 58.25
Mkt Cap: $6.51B EPS: 2.48, P/E: 23.76 Beta: 1.16
Div/Yld: 0.84(1.31%)
Construction company Owens Corning’s (OC) 2Q-18 earnings of $1.17/shr vs. consensus of $1.44/shr. An earnings surprise of -18.75% vs. last Qtrs earnings of 80c/shr vs. consensus of 96c/shr. A surprise of -16.70%. In downtrend pattern since Feb ’18 (90-83) plunging (78-70). Trading below its death cross formation (70-67) plunging to new low (67-58). Erosion to continue. Volatile.
SHORT RANGE: 57-65
COVER SHORT: 43
STOP LOSS: 78
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, July 27, 2018