Editor’s Note: Due the President’s Day market holiday on Monday, Feb. 16, the next Trade of the Day will be available Tuesday, Feb. 17.
Olin Corp. (OLN) — This manufacturer of alkali products to commercial and industrial markets in the United States and internationally (and owner of the Winchester brand) appears to be making a base.
Following a false breakout in early January, OLN fell to its major support — a triple-bottom at just under $14 where, in the past two days, it has reversed twice scoring a Collins-Bollinger Reversal (CBR) buy signal each time. The stochastic has also issued a buy signal.
The trading target for OLN is $18, but it could be positioned in quality long-term portfolios as a key chemical holding.
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