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Shares of Corning Rise to a New 52-Week High

By James Quinn

Corning (NYSE:GLW) traded at a new 52-week high today of $29.91. Approximately 475,000 shares have changed hands today, as compared to an average 30-day volume of 9.4 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.

Corning (NYSE:GLW) is currently priced 9.6% above its average consensus analyst price target of $27.00. The stock should find initial support at its 50-day moving average (MA) of $19.85 and further support at its 200-day MA of $18.38.

In the past 52 weeks, shares of Corning have traded between a low of $15.42 and a high of $29.91 and are now at $29.86, which is 94% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Corning on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.29. Since that recommendation, shares of Corning have risen 5.6%. We continue to monitor GLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Corning

Ticker(s): GLW