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Watch for Shares of Corning Inc (GLW) to Approach Support at $27.05

By Shiri Gupta

Corning Inc (NYSE:GLW) has opened bearishly below the pivot of $27.50 today and has reached the first level of support at $27.24. Should the shares continue to fall, the support pivots of $27.05 and $26.60 will be of interest.

Corning Inc (NYSE:GLW) has potential upside of 26.2% based on a current price of $27.30 and analysts' consensus price target of $34.46. The stock should discover initial support at its 50-day moving average (MA) of $19.85 and subsequent support at its 200-day MA of $18.38.

In the past 52 weeks, shares of Corning Inc have traded between a low of $18.88 and a high of $35.10 and are now at $27.30, which is 45% 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 its subscribers protect gains by selling shares of Corning Inc on January 30th, 2018 by issuing a Downtrend alert when the shares were trading at $32.07. Since that call, shares of Corning Inc have fallen 14.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts corning inc

Ticker(s): GLW