GLW trade ideas
GLW break at last?;yesterdays close represents a multi-month high and a break of the stubborn $21 level. With good trading volume it is suggestive of a continuation of the uptrend that has been in place since the reversal in the middle of May.
Corning Inc, Waiting for a triangle breakoutCorning Inc has formed a triangle. range narrowing down. waiting for a breakout. Be patient.
GLWNotes on chart. Previously weekly chart shows more upside, I think this pull back is the one to buy.
GLW Gap FillGaps tend to get filled, this should be no different. Short term play to $21.80 anyway, then let the trailing stops take care of it.
Quarterly Boxes on DAILY CHART - example GLWWould anyone else like to view a chart with this perspective? It puts the quarterly range in a highlight so you can look for beginning-of-quarter to end-of-quarter patterns. You can highlight the year in a different color too so you can see YEAR END very easily. The label could be 1Q instead of 1st Qtr.
You can see here in this break in GLW very easily that the stock is below the levels from last quarter and gives you the idea that the stock may be showing up on valuation screens at major mutual funds and hedge funds. Big money does tend to buy good values on price weakness, so this view would give you and idea of where the stock is in the range very easily.
I would also be interested to see the monthly range boxed in as well inside of the quarterly boxes. It would give a very powerful view of price action that is currently not available anywhere else. Note the 2nd Qtr in Red how the monthly range is boxed in.
Any thoughts or comments?
Cheers.
Tim
GLW break up of wedge, strong up trend The S&P 500 just broke up consolidation that was theme of year 2014. Yeasterday, sectors that were recent laggards (high-beta, small-cap) showed relative strength.
Overall you have to take stock specifique approach and be willing to buy dips in strong stocks if you want to be successful in this tape.
This solar company attract my attention. It was wedging near highs and stays in strong uptrend since gap up on 23 of October 2013.
Yeasterday it broke up wedge with close on dead highs and triggered LONG ENTRY.
STOP below short term moving averages and wedge support @ $20.50.
Pivot high @ $21.74 is first TARGET.
If you want to buy pullback - $20.90-$21.10 could be our buyable area.
Beautiful Cup and Handle Forming on GLWDisclosure: Long shares of GLW since $17.39
A textbook cup and handle looks to be forming on Corning's daily chart with a trough to cup height of about $1. Volume has been confirming on the move upwards with a series of higher highs and lower lows. I expect a little bit of resistance here as a handle forms and then a break to new highs with a target of $19. Watch volume and the stock's relative strength in this volatile market for a better indicator. The long consolidation period above the gap has allowed the moving averages to catch up providing great support levels for the stock as well.
Corning: Rally Still Has Room to RunCup with handle patterns are characterized as continuation patterns, but i believe can be both a continuation and reversal. This is an example of cup and handles with reversal implications. The breakout of the handle has a measured move target at 20.00 level.
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Corning Ready to Take Out Post-Earnings HighsGLW has been consolidating in a range post the acquisition announcement and earnings, this range has slowly been creeping upwards, allowing the 50 dma to cartch up and provide meaningful support for the stock, for the most part, the 21 ema has provided support for the stock but the 50-day allows a nice stop against which to go long, my target for this is for it to take out $18 and rise to new highs, check RSI and MACD - both looking nice
