Buy Corning Incorporated (GLW). Not only does this holiday season look good for Liquid Crystal Displays, it also looks promising for a shortage in fiber-optics. Of course anybody who knows GLW could tell you that, but I have other reasons for suggesting the stock-- always technical.
Here on the daily chart one might suggest that GLW is below both 200 and 50 day resistances (mainly right below the 50). Although it could be a resistance for the stock, the plus side is that a stock close to a support/resistance invokes volatility. Add volatility to a stock that's crossing the zero line on its MACD, and you have a good possibility of a breakout upwards. I don't like the high SlowSTO, but perfect charts are hard to come by. Also, as annotated on the chart, there is a good support not too far away if the 50DMA buffers the stock.
Similar story on the weekly chart, a 50WMA resistance approaching while the MACD is ready to cross the zero line.The risk/reward is excellent here, and I will be adding GLW to my personal portfolio tomorrow.
I hope you're all enjoying the holiday,
-Chris
3 comments:
I bought 200 shares today at 21.08.
GLW should do well.
With an excellent discount of 4% today, I also got in at 21.
We hit 20.56 at one point today, so I'm a little mad that I didn't wait a bit longer to get in, but I have to always remind myself that it's better to get into a good stock a bit early, then miss out on a lot later.
I bought at 20.67 and I'm not enjoying the holiday much at $19.75 but will just have to wait for the market to realize the true value of this stock.
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