Medium term view - CORNING INC : The RSI displays a bearish divergence.
The trend has been momentarily interrupted by a correction. It approaches the support at $27.00, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $35.00. The invalidation level is below $27.00.Arguments :
- The support has been reached.
- The RSI displays a bearish divergence.
- Prices are breaking below the moving average, it is a sign of weakness.
Corning is a provider of glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; optical materials for the semiconductor industry and the scientific community; and other technologies. The company reportable segments are: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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