[January 08, 2013]

Corning Set to Possibly Rebound After Yesterday's Selloff of 1.19%

Jan 08, 2013 (SmarTrend(R) News Watch via COMTEX) -- Corning (NYSE:GLW) traded in a range yesterday that spanned from a low of $12.43 to a high of $12.65. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $12.62 on volume of 20.3 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 November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.17. Since that recommendation, shares of Corning have risen 3.8%. We continue to monitor GLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Corning share prices have been bracketed by a low of $10.62 and a high of $14.62 and are now at $12.43, 17% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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