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Corning Crosses Below its 10-day MA (GLW)

By James Quinn

Today, shares of Corning (NYSE:GLW) have crossed bearishly below their 10-day moving average of $20.90 on a volume of 3.5 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Corning share prices have moved between a 52-week high of $22.05 and a 52-week low of $15.42 and are now trading 32% above that low price at $20.41 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Corning on May 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.70. Since that recommendation, shares of Corning have risen 6.8%. We continue to monitor GLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Corning

Ticker(s): GLW