Corning Inc (GLW). The Group's principal activity is to produce optical fiber and cable, as well as, specialized products utilizing glass.
When I made our exploration and filtering of the 7401 stocks in my database I immediately knew I had to buy Corning. The stock is definitely on fire !
Let me give you a long term chart on Corning:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=122;image)
And on a shorter time frame we have this:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=123;image)
Breaking a consolidation phase on the upside. This was a rectangular formation that gives us a potential price target of 13.89-9.89 = $4 from the breakaway point which was $13.89.
So I'm buying GLW at tomorrow's open (I just hope it's not a gap up) and hold the stock until the target at $17.89 is reached (or until market action proves this analysis is wrong).
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When I bought GLW I've said the stock would give a $3 a share profit. The stock yesterday closed @ $16.24 and it is on an uptrend. I'm hoping my paper profit grows more to sell at the $17.89 target.
... breakout in GLW gives me a $17.89 short term target. I'm holding for that.
... GLW is advancing to its projected target @ $17.89.
GLW is a heavy stock and it is taking a lot of time to reach the projected target. I'm holding the stock for almost a month now and that goes beyond my ideal holding period. Starting to lose patience with GLW, there are too many stocks on fire out there calling for my money.
The second pick, GLW, gapped up on huge volume as it reported a $165m profit in Q2. Its continued strong price action is supported by similar moves in its technicals with only the potential for a bearish divergence in the MACD trigger line capable of getting in its way (although its most recent bearish divergence was negated mid-July). The point-n-figure chart shows an ascending triple top breakout as of June 1st with a price target of $25.00. This stock has come a long way from $1.00 lows mid-2002.
Buy Stop Target Support
$19.17 $17.49 $24.34 $18.52
Quote from: Adam on July 28, 2005, 08:37:05 AM
The second pick, GLW, gapped up on huge volume as it reported a $165m profit in Q2. Its continued strong price action is supported by similar moves in its technicals with only the potential for a bearish divergence in the MACD trigger line capable of getting in its way (although its most recent bearish divergence was negated mid-July). The point-n-figure chart shows an ascending triple top breakout as of June 1st with a price target of $25.00. This stock has come a long way from $1.00 lows mid-2002.
Buy Stop Target Support
$19.17 $17.49 $24.34 $18.52
applaud to you Adam good call. Been moving up nicely since your post currently at $20.30
Hi,
Zacks.com select GLW as a good candidate for traders (good financial news).
Well, when i see the chart it looks very good interms of reward/risk ratio...But we can see a "breakaway gap" so be carefull !
Here is my thighten strategy
buy at 24.13
stop-loss at 22.67 (risk of 6.44%)
first target at 25.6 (50% of our stocks)
second target at 33 (rest of 50% of our stocks). This second traget is the result of the double bottom.
So a reward/risk of 36.75 / 6.44 = 5.7 :! EXCELLENT
good trades