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S&P 500 Oversold StocksArchive
- 5/2/2025 -
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Corning Inc. (GLW) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the Corning Inc. (GLW). During the week, the GLW gained 1.58 points, or 3.58%, and closed at 45.76 on Friday, May 2, 2025. Weekly volume was 18% above 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 55.33 on January 29, 2025. GLW gained -47.97 points, or -651.77%, in 844 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 27.03 and resistance is at 60.16. 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 downtrend had started on January 29, 2025 at 55.33 and reached 37.31 on April 7, 2025. GLW lost 18.02 points, or 32.57%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (46.07). 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 below its signal line since February 21, 2025. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 7, 2025 at 37.31 and reached 45.94 on May 2, 2025. GLW gained -8.63 points, or -23.13%, in 25 days. Price is near the trend high.
 Daily Technical Indicators: [See GLW daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are 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 and Lane's Stochastic or strongly overbought daily 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 21, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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