OC - Dividend Growth Stock Owens Corning Likely To Run Higher (Technical Analysis)

2024-05-27 05:43:21 ET

Summary

• Owens Corning is experiencing a breakout to new highs, indicating institutional accumulation and potential for higher prices.
• The company manufactures products for residential and commercial buildings, with annual sales of nearly $10 billion.
• Owens Corning has a decade-long record of dividend growth and is a potential investment for dividend growth investors seeking capital appreciation.

Introduction

You may be familiar with my series of articles where I predict annual dividend increases for several long-term dividend growth companies. (If you aren't, you can see them on my profile page .) In general, this involves reviewing a dividend growth company's fundamental performance to predict that company's next dividend increase. However, in the modern stock market, much of a stock's performance is driven by technical factors. If dividend growth investors can grab some capital appreciation along with increasing income, all the better. It can be discouraging to buy a dividend stock and then immediately see its price drop....

For further details see: