GLW had been treading water for no apparent reason this past month, but my respite came as earnings were released today with numbers much better than expected. Corning gave very light expectations for this upcoming quarter, but investors were so impressed with management’s new understanding of seasonality, that the stock ended up over 10%. With such a low bar set for earnings this quarter, another surprise to the upside is in order.
The chart of GLW looks better than when I first suggested it in December. The MACD is basically identical; however, the Slow STO is now at its midpoint rather than overbought as pointed out before. 
The 200DMA resistance at 22 is keeping investors from getting overly ambitious in a single day, but I believe we will get above it soon. Here is the previous chart, along with today's.
XWG gave back after-hours gains it achieved yesterday, and lost the battle of staying above 2.7. Technical indicators are getting dicey, so I will be watching it closely.
-Chris
5 comments:
Good call on AMGN.
Thanks Andrey.
Christopher what is your take on Jones Soda at this price.I went short this time. P/E 102? I don't know about that.
I can see that the market disagrees with you.
If you look at a 2 year weekly chart, the stock has recently crossed 80 on it's RSI. This has happened before and the stock has taken a small dip, then gone higher, before falling to it's 50WMA. (This happened twice)
Third time's a charm, so either you sell now or hope that this pattern develops so you can possibly get out at 11.
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