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Downtrend Broken Resist.Archive
- 5/10/2024 -
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Corning Inc. (GLW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the Corning Inc. (GLW). During the week, the GLW gained 0.45 points, or 1.33%, and closed at 34.17 on Friday, May 10, 2024. GLW was trading at average weekly trading volume.
 Long-term trend: [See GLW long-term trend chart]
A long-term downtrend had started on April 26, 2021 at 46.82 and reached 25.26 on October 24, 2023. GLW lost 21.56 points, or 46.05%, in 130 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (23.35) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GLW may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GLW medium-term trend chart]
A medium-term uptrend had started on October 24, 2023 at 25.26 and reached 34.47 on April 30, 2024. GLW gained -9.21 points, or -36.46%, in 27 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See GLW weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See GLW short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 32.84 and reached 34.38 on May 10, 2024. GLW gained -1.54 points, or -4.69%, in 9 days. The price is now at the 13.64% retracement level.
 Daily Technical Indicators: [See GLW daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.
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