Last Gasp?

If you believe the financial press, link here, then we’re in the clear for Corning as it’s part of the A.I. mania.

Throw in some analyst ‘buy’ ratings and it’s good to go. 🙂

If we actually look at the truth, the price action itself, it may be telling us something different (not advice, not a recommendation).

Corning GLW, Monthly

All-time highs, link here.

The long-term perspective shows us it took nearly a generation for GLW to get back to ‘dotcom’ levels.

In fact, the news release in the first link above, resulted in the gap-higher straight into decades long resistance.

Now, you have to ask yourself: “Do you feel lucky?”

Is GLW, somehow going to miraculously push through (and hold) that resistance of many years, on just one attempt?

In the markets, anything can happen.

Next up and depending on price action, we’ll look at the daily chart.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279