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S&P 500 Oversold StocksArchive
- 4/5/2024 -
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Corning Inc. (GLW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Corning Inc. (GLW). During the week, the GLW dropped -0.42 points, or -1.27%, and closed at 32.54 on Friday, April 5, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was -9% below average.
GLW is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 Channel chart pattern. The price is near the trend resistance line (31.90). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the 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, 2023 at 37.10 and reached 25.26 on October 24, 2023. GLW lost 11.84 points, or 31.91%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (33.73). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line 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. Use the following link to access a MACD help.
 Short-term trend: [See GLW short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 33.34 and reached 32.27 on April 4, 2024. GLW lost 1.07 points, or 3.21%, in 14 days. The chart has formed a Rectangle chart pattern.
Daily Technical Indicators: [See GLW daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.7%) is close to one year low (3.28%). It is 69.99% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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