Is the bullish run coming to an end? Olin closed at $51.39 (-0.96%)

Though in the midst of a 7 day uptrend, gaining a total of 7.8%, ($4.22), Yesterday's session suggests run might be coming to an end — slightly down but mostly flat: Olin ranged between $51.38 and $52.46 before closing at $51.39.

Meanwhile, United States Core PCE Price Index (YoY) (May) released yesterday at 12:30 UTC with a figure of 4.6, while the previous figure was 4.7. United States Core PCE Price Index (MoM) (May) came out at 0.3, while a consensus of analysts was expecting 0.3. Fresh CFTC S&P 500 speculative net positions data from United States came out at -208,300.

Chart analysis indicates Olin Corporation could begin to recover as it approaches significant support, now 36 cents away from $51.03. Dipping below could be an indication that further losses are ahead. Olin is currently flirting with an active Fibonacci support level around $51.66.

On the other hand, positive performances could be seen by looking at other materials stocks as Linde added 0.5% to its value, and traded at $381.08.

4 months ago the chemicals and ammo distributor reached a significant high of $64.59 but has consequently lost 19.66% since then.