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Archive
- 12/13/2024 -
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Corning Inc. (GLW) Technical Analysis
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| Summary:
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| | It was the negative week for the Corning Inc. (GLW). During the week, the GLW dropped -1.41 points, or -2.85%, and closed at 48.15 on Friday, December 13, 2024. Weekly volume was -22% below average.
 Long-term trend: [See GLW long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 7.36 and reached 51.03 on October 29, 2024. GLW gained -43.67 points, or -593.34%, in 831 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 26.57 and resistance is at 58.87. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern 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 51.03 on October 29, 2024. GLW gained -25.77 points, or -102.02%, in 53 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 41.87 and resistance is at 57.93. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See GLW weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 13, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 December 5, 2024 at 50.00 and reached 47.50 on December 12, 2024. GLW lost 2.50 points, or 5%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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 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.
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