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Corning Rises 1.15% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Corning (NYSE:GLW) traded in a range yesterday that spanned from a low of $23.63 to a high of $23.83. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $23.61 on volume of 3.6 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 recommended that subscribers consider buying shares of Corning on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.30. Since that recommendation, shares of Corning have risen 10.0%. We continue to monitor GLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Corning has traded in a range of $15.42 to $23.96 and is now at $23.75, 54% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders Corning

Ticker(s): GLW