SmarTrend Watching for Potential Rebound in Shares of Corning After 1.19% Loss

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.

Over the past year, Corning has traded in a range of $10.62 to $14.62 and is now at $12.43, 17% above that low. The 200-day and 50-day moving averages have moved 0.18% lower and 0.44% lower over the past week, respectively.

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.

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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