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After Yesterday's Rally of 1.13% Shares Could Potentially Pullback

By Shiri Gupta

Corning (NYSE:GLW) traded in a range yesterday that spanned from a low of $21.25 to a high of $21.60. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $21.45 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

In the past 52 weeks, shares of Corning have traded between a low of $15.42 and a high of $22.05 and are now at $21.55, which is 40% 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.

Keywords: rebounders Corning

Ticker(s): GLW