Trade Of The Day: Corning (GLW)
by Sam Collins 12/21/06
By Sam Collins
Corning Inc. (GLW)--This provider of technology-based products and services in the United States has been in a bull market since mid-2002. But in the last year it has been consolidating in a broad range with a triple-bottom at $18, where this blue chip has strong support with the short stochastic now flashing a buy signal. Bargain-hunting at $19 could be rewarded with a run-up to the 200-day moving average at $23 and perhaps even a break into new highs.
Sam Collins is ChangeWave's Chief Technical Analyst and a Registered Investment Adviser who manages portfolios for a fee. He can be reached at samailc@cox.net.
by Sam Collins 12/21/06
Corning Inc. (GLW)--This provider of technology-based products and services in the United States has been in a bull market since mid-2002. But in the last year it has been consolidating in a broad range with a triple-bottom at $18, where this blue chip has strong support with the short stochastic now flashing a buy signal. Bargain-hunting at $19 could be rewarded with a run-up to the 200-day moving average at $23 and perhaps even a break into new highs.
Sam Collins is ChangeWave's Chief Technical Analyst and a Registered Investment Adviser who manages portfolios for a fee. He can be reached at samailc@cox.net.
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