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Shares of Corning Inc Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Shares of Corning Inc (NYSE:GLW) traded today at $27.28, breaking its 52-week low. This new low was reached on below average trading volume as 517,000 shares traded hands, while the average 30-day volume is approximately 5.5 million shares.

Corning Incorporated is a global technology-based company. The Company produces optical fiber, cable, and photonic components for the telecommunications industry, as well as manufactures glass panels, funnels, liquid crystal display glass, and projection video lens assemblies for the information display industry.

In the past 52 weeks, Corning Inc share prices have been bracketed by a current low of $27.28 and a high of $36.56 and are now at $27.28. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

Potential upside of 21.5% exists for Corning Inc, based on a current level of $27.28 and analysts' average consensus price target of $33.14. The stock should run into initial resistance at its 50-day moving average (MA) of $31.78 and subsequent resistance at its 200-day MA of $32.12.

SmarTrend is monitoring the recent change of momentum in Corning Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Corning Inc in search of a potential trend change.

Keywords: 52 week high/lows corning inc

Ticker(s): GLW