Let’s look at the one of the best growth stock Corning Incorporated (GLW) technical chart analysis using it’s weekly stock chart, as it’s trading close to its buying price, May 1st, 2017.
#2 – The stock was under wild consolidation for most part of last year.
#3 & #4 – The stock had many quick runs and followed by consolidations.
#5 – The stock found support at the 50 day moving average all along.
#6 – The stock went to an another consolidation recently.
#7 – The volume was little bit erratic, it was heavy and low at times.
#8 – The stock lost the 50 DMA moving average during the recent consolidation, but quickly recovered.
#9 – The stock cleared the recent consolidation and made a new high.
The ideal buy point would be $28.46 – $29.88.