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Corning Inc Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Shares of Corning Inc (NYSE:GLW) traded today at $17.56, breaking its 52-week low. This new low was reached on below average trading volume as 624,000 shares traded hands, while the average 30-day volume is approximately 7.2 million shares.

Corning Inc has overhead space with shares priced $17.86, or 46.1% below the average consensus analyst price target of $33.14. Corning Inc shares should first meet resistance at the 50-day moving average (MA) of $26.50 and find additional resistance at the 200-day MA of $28.95.

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.

In the past 52 weeks, Corning Inc share prices have been bracketed by a current low of $17.56 and a high of $35.34 and are now at $17.86. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.4% while the 200-day MA has slid 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Corning Inc on January 30th, 2020 by issuing a Downtrend alert when the shares were trading at $27.61. Since that call, shares of Corning Inc have fallen 31.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows corning inc

Ticker(s): GLW