ShakeShakeLeg

Breaking the OI Glass ceiling! Long setup!

Long
NYSE:OI   O-I Glass, Inc
What I see...
+ Bread-out run throughout last week leading up to Earnings
+ Prices pulled back; seem to have found Support by the 50 MA
+ Multi cup/handle formation with higher lows
+ Prices moved sideway in the past 2 days with contracting vol.

- 0.5 Fib could be potential Resistance next
- Vol. is still on the low side
- Overall trend is still bearish

Setup...
Long entry above resistance
Stop set at Friday's low (aggressive) or Thurs' low (safer)
Target is 0.618 Fib.
Order cancelled: Cancelling setup.