CORNING INC (GLW) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:GLW - US2193501051 - Common Stock
We assign a technical rating of 9 out of 10 to GLW. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GLW is showing a nice and steady performance.
GLW has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 87.13, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
44.55
We found 3 important support areas.
- A support zone ranging from 83.60 to 87.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 78.03 to 79.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @45.00 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @89.35 from a horizontal line in the weekly time frame.
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 is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GLW is up. |
| ChartMill Relative Strength | 93.38 | POSITIVE | GLW has a high relative strength, it outperformed 93.38% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GLW is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GLW is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GLW is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.88 | NEUTRAL | The RSI value for GLW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests GLW has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 44.08 | NEUTRAL | The Stochastics value for GLW is a neutral value. |
| Average True Range in percent/ATR (20) | 3.49 | MEDIUM VOLATILITY | The ATR as a percentage value for GLW suggests some volalility. |
| Average Directional Index/ADX (14) | 17.87 | NEGATIVE | The low ADX value for GLW suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 89.36 | 84.81 | 4.55 (5.09%) | 19.64% |
| An entry @89.36. This is a Buy Stop order right above the resistance zone. | An exit @84.81. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.55 points, which is 5.09%. | When investing 19.64% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of GLW. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
89.34
+0.94 (+1.06%)
CORNING INC / GLW FAQ
What is the ChartMill technical rating of CORNING INC (GLW) stock?
ChartMill assigns a technical rating of 9 / 10 to GLW.
Can you provide the trend direction for CORNING INC?
The current trend direction for CORNING INC (GLW) is Bullish.
What is the RSI signal for CORNING INC (GLW) stock?
CORNING INC (GLW) has an RSI value of 55.878. This indicates that the stock is currently neutral.
What is the buy/sell signal for GLW stock?
The buy/sell signal for CORNING INC (GLW) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for CORNING INC?
CORNING INC (GLW) has a support level at 87.13 and a resistance level at 89.35. Check the full technical report for our detailed analysis of GLW support and resistance levels.