Corning (NYSE:GLW) has opened bullishly above the pivot of $12.20 today and has reached the first level of resistance at $12.31. Investors may be interested in a cross of the next upside pivot targets of $12.45 and $12.70.
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.
Corning (NYSE:GLW) has potential upside of 16.5% based on a current price of $12.36 and analysts' consensus price target of $14.40. The stock should run into initial resistance at its 50-day moving average (MA) of $12.68 and subsequent resistance at its 200-day MA of $12.96.
Corning share prices have moved between a 52-week high of $14.62 and a 52-week low of $10.62 and are now trading 16% above that low price at $12.36 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.