CORNING INC (GLW) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:GLW - US2193501051 - Common Stock
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.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, GLW did better than 90% of all other stocks.
- GLW is part of the Electronic Equipment, Instruments & Components industry. There are 124 other stocks in this industry. GLW outperforms 77% 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 83.95 - 95.65 range, which is quite wide. It is currently trading near the high of this range.
- GLW has an average volume of 5967710 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, GLW also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 87.63, a Stop Loss order could be placed below this zone.
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78.34
When analyzing the support we can see 3 important areas.
- A support zone ranging from 87.11 to 87.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 85.23 to 85.42. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 79.13 to 79.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- Resistance @95.97 from a horizontal line in the daily 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 | 90.69 | POSITIVE | GLW has a high relative strength, it outperformed 90.69% 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) | 59.37 | NEUTRAL | The RSI value for GLW is a neutral value. |
| 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) | 84.99 | OVERBOUGHT | The high Stochastics value suggests GLW may be overbought. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for GLW suggests some volalility. |
| Average Directional Index/ADX (14) | 21.72 | NEUTRAL | The ADX value for GLW suggests a possible start of a new 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 |
|---|---|---|---|
| 95.98 | 87.10 | 8.88 (9.25%) | 10.81% |
| An entry @95.98. This is a Buy Stop order right above the resistance zone. | An exit @87.10. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 8.88 points, which is 9.25%. | When investing 10.81% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
93.3
-0.98 (-1.04%)
CORNING INC / GLW FAQ
What is the ChartMill technical rating of CORNING INC (GLW) stock?
ChartMill assigns a technical rating of 10 / 10 to GLW.
What is the current trend direction of CORNING INC (GLW) stock?
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 59.3671. This indicates that the stock is currently neutral.
What is the MACD signal for GLW stock?
The MACD indicator for CORNING INC (GLW) has a value of 0.454911, indicating a bearish trend.
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.