GLW Technical Analysis - CORNING INC

Technical Rating and Analysis

Taking everything into account, GLW scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, GLW has proven to be a steady performer, scoring decent points in every aspect analyzed.

Warning: GLW has an average volume of 4376 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

The long and short term trends are both positive. This is looking good!

When comparing the yearly performance of all stocks, we notice that GLW is one of the better performing stocks in the market, outperforming 95% of all stocks.

GLW is part of the Electronic Equipment, Instruments & Components industry. There are 52 other stocks in this industry. GLW outperforms 90% of them.

GLW is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month GLW has a been trading in the 55.02 - 67.11 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although GLW has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

34.82

66.20

We found 5 important support areas.

A support zone ranging from 63.54 to 64.07. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @57.42 from a horizontal line in the daily time frame.
Support @49.92 from a trend line in the daily time frame.
Support @39.17 from a trend line in the weekly time frame.
Support @35.17 from a horizontal line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for GLW.DE is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for GLW.DE is up.
ChartMill Relative Strength	95.59	POSITIVE	GLW.DE has a high relative strength, it outperformed 95.59% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of GLW.DE is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of GLW.DE is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of GLW.DE is above the rising SMA(200).
Relative Strength Index/RSI (14)	79.75	OVERBOUGHT	The high RSI value suggests GLW.DE may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.29	POSITIVE	The MACD value suggests GLW.DE has a positive trend, although the MACD value is declining.
Stochastics (14,3)	85.74	OVERBOUGHT	The high Stochastics value suggests GLW.DE may be overbought.
Average True Range in percent/ATR (20)	1.65	LOW VOLATILITY	The low ATR as a percentage value for GLW.DE suggests low volalility.
Average Directional Index/ADX (14)	58.79	POSITIVE	The high ADX value value for GLW.DE suggests a strong trend.