TMCnet News
Corning Set to Possibly Rebound After Yesterday's Selloff of 9.40%Oct 24, 2012 (SmarTrend(R) News Watch via COMTEX) -- Corning (NYSE:GLW) traded in a range yesterday that spanned from a low of $11.96 to a high of $12.80. Yesterday, the shares fell 9.4%, which took the trading range below the 3-day low of $13.15 on volume of 45.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. SmarTrend recommended that subscribers consider buying shares of Corning on September 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.41. Since that recommendation, shares of Corning have risen 8.1%. 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 $10.62 to $15.75 and is now at $12.16, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has remained constant. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |