Corning Incorporated Stock Forecast

Corning Incorporated stock price down 0.0634% on Tuesday
(Updated on Apr 23, 2024)

GLW Signals & Forecast

There are mixed signals in the stock today. The Corning Incorporated stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $32.28. On a fall, the stock will find some support from the short-term average at $31.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.01%. Further rise is indicated until a new top pivot has been found.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, March 04, 2024 and based on theory for this formation the price should fall by -5.97% to $29.65 within 23 trading days since signal was issued (Wednesday, April 24, 2024).

Support, Risk & Stop-loss for Corning Incorporated stock

Corning Incorporated finds support from accumulated volume at $31.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.371 (1.18%) between high and low. For the last week, the stock has had daily average volatility of 1.44%.

Our recommended stop-loss: $30.09 (-4.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (GLW) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Corning Incorporated to open at $31.62, and during the day (based on 14 day Average True Range), to move between $31.00 and $32.06, which gives a possible trading interval of +/-$0.530 (+/-1.68%) up or down from last closing price. If Corning Incorporated takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $31.15 (1.21%) than the resistance at $32.51 (3.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Corning Incorporated stock A Buy?

Corning Incorporated holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.593 Hold/Accumulate Unchanged

Predicted Opening Price for Corning Incorporated of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.