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Corning - Barchart's Chart Of The Day

|Includes:Corning Inc. (GLW)

The Chart of the Day is Corning (NYSE:GLW). I found the stock by sorting the New High List, skipped the stocks not having positive gains for the last week and month and used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/1/ the stock gained 20.13%.

It manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 88% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 6.75% in the last month
  • Relative Strength Index 62.94%
  • Barchart computes a technical support level at 17.75
  • Recently traded at 18.02 with a 50 day moving average of 17.21%

Fundamental factors:

  • Market Cap $26.32 billion
  • P/E 13.95
  • Dividend yield 2.22%
  • Revenue predicted to decrease 1.80% this year but increase by 27.10% next year
  • Earnings estimated to shrink 5.40% his year but increase by 24.60% next year and continue to increase at an annual rate of 17.60% for the next 5 years
  • Wall Street brokerage firms issued 4 strong buy, 5 buy, 11 hold and 1 under perform recommendation on the stock
  • Financial Strength is B+

Use the 100 day moving average on this stock for signs of weakness.

Stocks: GLW