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Archive
- 4/26/2024 -
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Corning Inc. (GLW) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Corning Inc. (GLW). During the week, the GLW climbed 0.06 points, or 0.19%, and closed at 31.33 on Friday, April 26, 2024. Weekly volume was -18% below average.
 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 (23.49) is broken. A broken support is considered to be a long-term bullish signal. 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 downtrend had started on January 30, 2024 at 33.87 and reached 30.72 on April 18, 2024. GLW lost 3.15 points, or 9.30%, in 11 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 30.55 and resistance is at 33.21. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See GLW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 8, 2023. The distance between MACD and the signal line is low and getting smaller. 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 April 18, 2024 at 30.72 and reached 31.86 on April 23, 2024. GLW gained -1.14 points, or -3.71%, in 5 days. The price is now at the 46.49% retracement level.
Daily Technical Indicators: [See GLW daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 4, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
6 |
| Industry |
Electronic Components |
89 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
31.86 |
| High Date |
04/23/2024 |
| Low |
31.20 |
| Low Date |
04/25/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
30.72 |
| Low Date |
04/18/2024 |
| High |
31.86 |
| High Date |
04/23/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
33.21 |
| Support |
30.55 |
| High |
33.87 |
| High Date |
01/30/2024 |
| Low |
30.72 |
| Low Date |
04/18/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
25.26 |
| Low Date |
10/24/2023 |
| High |
33.87 |
| High Date |
01/30/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
30.27 |
| Support |
23.49 |
| High |
46.82 |
| High Date |
04/26/2021 |
| Low |
25.26 |
| Low Date |
10/24/2023 |
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