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After Yesterday's Rally of 1.91% Shares Could Potentially Pullback

By Shiri Gupta

Corning (NYSE:GLW) traded in a range yesterday that spanned from a low of $27.28 to a high of $27.64. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $27.22 on volume of 3.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Corning share prices have moved between a 52-week high of $28.36 and a 52-week low of $15.42 and are now trading 78% above that low price at $27.50 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

Keywords: rebounders Corning

Ticker(s): GLW