GLW Technical Analysis - CORNING INC

Technical Rating and Analysis

We assign a technical rating of 10 out of 10 to GLW. 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.

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

Looking at the yearly performance, GLW did better than 93% of all other stocks.

GLW is one of the better performing stocks in the Electronic Equipment, Instruments & Components industry, it outperforms 77% of 124 stocks in the same industry.

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 65.09 - 79.98 range, which is quite wide. It is currently trading near the high of this range.

GLW has an average volume of 7127090 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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

42.63

80.42

When analyzing the support we can see 2 important areas.

Support @60.90 from a trend line in the daily time frame.
Support @43.06 from a trend line in the weekly time frame.

We found 1 important resistance area.

A resistance zone ranging from 79.55 to 79.62. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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 is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for GLW is up.
ChartMill Relative Strength	93.48	POSITIVE	GLW has a high relative strength, it outperformed 93.48% 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)	79.97	OVERBOUGHT	The high RSI value suggests GLW may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.45	POSITIVE	The MACD value suggests GLW has a positive trend, although the MACD value is declining.
Stochastics (14,3)	93.85	OVERBOUGHT	The high Stochastics value suggests GLW may be overbought.
Average True Range in percent/ATR (20)	2.35	MEDIUM VOLATILITY	The ATR as a percentage value for GLW suggests some volalility.
Average Directional Index/ADX (14)	61.32	POSITIVE	The high ADX value value for GLW suggests a strong trend.