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S&P 500 Overbought StocksArchive
- 10/4/2024 -
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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 climbed 0.01 points, or 0.02%, and closed at 44.88 on Friday, October 4, 2024. Weekly volume was -46% 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 (21.94) 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 August 5, 2024 at 37.18 and reached 45.60 on September 24, 2024. GLW gained -8.42 points, or -22.65%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 43.70 and resistance is at 46.76. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel 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, 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 downtrend had started on September 24, 2024 at 45.60 and reached 44.29 on October 1, 2024. GLW lost 1.31 points, or 2.87%, in 7 days. The price is now at the 45.04% retracement level.
Daily Technical Indicators: [See GLW daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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.
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