$GLW - targets are $47 then $49I picked up options on this stock a couple of days ago from screener triggers.
Currently 14% green.
I ran fib from the largest drop I could find and based on long term fib we are over the 241% level. The next level is around $47 then long term resistance/support comes at $49/share.
GLW trade ideas
GLW - Elliottwave analysis - 5th wave upGLW - It is in strong up trend and in impulse cycle from Covid low. It is about to complete the 1st subwave of 5th wave up in 30 min time frame, so wait for 2nd wave correction to get in to buy set up with stop level below 31.30 and enter the trade near 33 level for 3rd subwave up, which probably go above 36 level. It is outperforming the SPX, which is added benefit to the trade set up.
Give thumbs up if you really like the trade idea.
Short GLW as Hedgesee charts at www.tradingview.com
Sell Short Entry $29
1st Target $27.05
2nd Target $26.05
Buy to cover Stoploss $30
Why this play?
Chart Pattern, Looking for a pull back instead. Since market is scary high.
What is Glw?
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors. Its Optical Communications segment manufactures optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for various carrier network applications.
Is Corning attempting to get out of the Feb 21 bearish channel?In April 7 we will know it for sure. However, Corning has big operations in China and there a suspicions that China is misleading the world about coronavirus infected people. Meanwhile, the US is getting worse with its high number of cases. Therefore, Corning has reasonable chances to test the previous minimum at 17.54 zone. But recently, even though the big news about COVID-19, Corning has been testing to get out of the bearish channel started on Feb 21 with a failed Three Drives Pattern. Therefore, the stock might try to conquer $22 level either before or after reaching 17.54 level. If it does not reach that low level and drops until just $18.50, we might be experiencing the start of a new bullish channel.
GLW - Bullish EMA Cross and Upcoming 10WeekMA CrossTHIS IS NOT READY. Ready after confirmation of daily close above $29.34 (or 10WeekMA).
GLW - Corning (maker of Gorilla Glass for phones) has a bullish EMA Cross.
Short term bullish bias after 10WeekMA cross. Holding for day(s) to a week max.
I would wait until after Xmas to enter this trade. I may enter on Friday and hold over weekend.
This will be a Put Credit Spread - bullish bias.
I will update with possible entry prices and expiration once I enter.
GLW has weekly options making entry easy IMO.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website www.moneypatterns.com and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short-term NFLX
GLW long setupGLW’s innovation outlook is trending up based on a current score of 83 out of 99, outperforming sector average. Jobs growth over the past year has decreased and insiders sentiment is neutral. GLW is an Average Performer in terms of sustainability. It is most exposed to Duke Energy Corporation as its supplier. Over the past 4 quarters GLW beat earnings estimates 3 times and it pays dividend higher than its peers.
For more analysis and articles visit our website .
Corning Inc offers reversal opportunity.====Entry level $29- Target price $33====.
Corning, Inc. develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies. It operates through the following five business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. The Display Technologies segment manufactures glass substrates for high performance displays, including organic light-emitting diode and liquid crystal displays that are used primarily in televisions, notebook computers and flat panel desktop monitors. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. The Life Sciences segment develops, manufactures and supplies scientific laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.
$GLW Growth is expected in Corning's earnings, expectations highCorning is a great company with very diversified income streams but is often just associated with phone screens, which may have hurt its share price given the negative growth in smartphones. The company is currently very close to the analysts price estimate of $36 and from a charting perspective indicators are neutral. Despite good earnings the stock could sell off ass previous reports, so we will wait and see before reassessing our view.
Corning, Inc. develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies.
GLW, you glass my world. I like you for a credit spread. GLW is a 27 billion dollar champion that makes all my phone screens. Screens are pretty important. Seems like a decent long term bet that this guy is gonna stick around.
In the short term, it seems like this guy bounced right off of a resistance line, and pending any sad news from the fed or China or whatever, I think this will be keep inching up to it's top around 36.
May 36/37 spread is .31. Max profit 220%.
it's at 34.61 tonight. It has to go up 2.39 (7%) in 59 days.
It would have to break through it's alltime high. Is that hard? I heard somewhere that there could be higher highs before this train derails. I'm hoping GLW is one of them.
Luckily if my target gain is only 50%, it doesn't have to go all the way there. It just has to head in that direction for a while.
Go baby go.
----
Unrelated thought... is anybody else using tradingview for options trading? Comment if you are. Let's be friends and make all the money.