Olin currently down 0.74% halfway through today

While bearish sentiment is dominating the market, the chemicals and ammo distributor is maintaining its poise around $57.34 while ranging between $57.29 and $58.42 so far today.

Highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%. Highly important Retail Sales data from United States beat analyst expectations of -0.4% with a reading of -1%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.

Olin Corporation made an initial break below its 50 day Simple Moving Average at $57.34, a possible indication of a forthcoming negative trend. Olin's upper Bollinger Band® is at $59.49 which indicates a further downward move may follow. On the other hand, note that Olin could begin to recover as it approaches significant support, now 34 cents away from $57. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Olin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the chemicals and ammo distributor is expected to attract significant bearish sentiment in the coming days.

Olin's stock value drop coincides with after closing the previous session (yesterday) at $62.7, BHP Billiton lost $1.55 and is trading around $61.15. After closing the previous session (yesterday) at $69.9, Rio Tinto lost $1.66 and is trading around $68.24. After closing the previous session (yesterday) at $361.96, Linde lost $2.81 and is trading around $359.14.

The stock has been trending positively for about 30 days. Having set a significant low of $42.21 6 months ago, the chemicals and ammo distributor is trading 36.86% higher.