GLW Watch

The tech company Corning Inc. (GLW) is showing a volume spike approaching 25% on a 5.8% price rise low to high. The price has retreated and is trading 2% above the opening.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
GLW $18.04

It is the fourth straight day of higher highs and low for GLW. The stock reached a swing high of $21.10 on April 27, and then declined to a swing low of $15.99 on June 7 (ignoring the May 6 flash crash downward spike).

The parabolic sar today switched to bull phase, three days after Person's Proprietary Signal and the macd.

Today's high puts the price near a resistance level that has been tested repeatedly this year and last, as well as in 2005 and 1997.

Reversal Levels

• $21.10, +17.00%
• $18.82, +4.3%
• $18.04 <== You are here.
• $15.99, -11.4%

Long term, GLW peaked with the technology boom at $113.32 in 2000, and declined to $1.10 in 2002. It retraced up to the $30 level in 2006, traded sideways until the May 2008 peak of $28.07, declined to $7.36 with the recession, and then clawed its way up to a lower high in the current swing.

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Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

Abbreviations:

• psar - Parabolic Stop and Reverse
• adx - Average Directional Index
• pps - Person's Proprietary Signal
• ma20 - 20-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.