CORNING INC (GLW) Stock Technical Analysis
NYSE:GLW - New York Stock Exchange, Inc. - US2193501051 - Common Stock - Currency: USD
Taking everything into account, GLW scores 10 out of 10 in our technical rating. 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.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that GLW is one of the better performing stocks in the market, outperforming 86% of all stocks.
GLW is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GLW is lagging the market slightly.
In the last month GLW has a been trading in the 49.47 - 53.27 range, which is quite wide. It is currently trading near the high of this range.
GLW has an average volume of 4897300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
GLW is an average performer in the Electronic Equipment, Instruments & Components industry, it outperforms 61% of 125 stocks in the same industry.
GLW has an excellent technical rating, but the quality of the setup is only medium 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.
More info and screens
40.82
53.57
We found 3 important support areas.
- A support zone ranging from 51.26 to 52.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 48.68 to 49.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @41.23 from a trend 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 | 86.25 | POSITIVE | GLW has a high relative strength, it outperformed 86.25% 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) | 72.21 | OVERBOUGHT | The high RSI value suggests GLW may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests GLW has a positive trend. |
| Stochastics (14,3) | 93.91 | OVERBOUGHT | The high Stochastics value suggests GLW may be overbought. |
| Average True Range in percent/ATR (20) | 1.59 | LOW VOLATILITY | The low ATR as a percentage value for GLW suggests low volalility. |
| Average Directional Index/ADX (14) | 35.89 | POSITIVE | The high ADX value value for GLW suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 53.29 | 49.96 | 3.32 (6.24%) | 16.03% |
| An entry @53.28. This is a Buy Stop order right above the 10 day high. | An exit @49.96. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 3.32 points, which is 6.24%. | For a 1.00% total portfolio risk, you can invest 16.03% of your capital in this trade. |
- 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.
53.04
+0.32 (+0.61%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg0.61%
1 Week2.59%
2 Weeks5.05%
1 Month4.49%
3 Month35.76%
6 Month11.66%
12 Month37.98%
2 Year56.28%
3 Year44.29%
5 Year71.1%
10 Year183.94%
15 Year192.72%
Volatility
ATR(14)0.86
ATR(20)%1.59%
ATR Inc-33.33%
Range Today0.45
ADR(20)0.81
ADR(20)%1.52%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.25
Mansfield0.49
10 Day High53.28
10 Day Low49.97
20 Day High53.28
20 Day Low49.47
52 Week High55.33
52 Week Low37.18
CS1 End51.71
CR1 StartN/A
Volume & EV
DER(3)1.94%
DER(5)1.96%
Volume2.07M
Volume Incr-2.8%
Vol(5)4.35M
Vol(50)4.90M