Stock Analysis on Net

Corning Inc. (NYSE:GLW)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Stock Price Trends


Summary

Key facts

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 9.03% per annum.
  • GLW price at the close of May 2, 2024 was $33.32 and was higher than the top border of the primary price channel by $1.57 (4.96%). This indicates a possible reversal in the primary trend direction.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 66.12% per annum.
  • GLW price at the close of May 2, 2024 was lower than the bottom border of the secondary price channel by $0.24 (0.70%). This indicates a possible reversal in the secondary trend direction.
  • The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.

Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of GLW price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e


Primary Trend

Start date: February 24, 2021
End date: January 29, 2024

a = 3.8089

b = -0.0003

s = 0.0613

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0003) – 1
= -9.03%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0613) – 1
= 27.79%

February 24, 2021 calculations

Top border of price channel:

Exp(Y456)
= Exp(a + b × X456 + 2 × s)
= Exp(a + b × 663 + 2 × s)
= Exp(3.8089 + -0.0003 × 663 + 2 × 0.0613)
= Exp(3.7595)
= $42.93

Bottom border of price channel:

Exp(Y456)
= Exp(a + b × X456 – 2 × s)
= Exp(a + b × 663 – 2 × s)
= Exp(3.8089 + -0.0003 × 663 – 2 × 0.0613)
= Exp(3.5143)
= $33.59

January 29, 2024 calculations

Top border of price channel:

Exp(Y1,192)
= Exp(a + b × X1,192 + 2 × s)
= Exp(a + b × 1,732 + 2 × s)
= Exp(3.8089 + -0.0003 × 1,732 + 2 × 0.0613)
= Exp(3.4821)
= $32.53

Bottom border of price channel:

Exp(Y1,192)
= Exp(a + b × X1,192 – 2 × s)
= Exp(a + b × 1,732 – 2 × s)
= Exp(3.8089 + -0.0003 × 1,732 – 2 × 0.0613)
= Exp(3.2370)
= $25.46

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 9.03% per annum.
  • GLW price at the close of May 2, 2024 was $33.32 and was higher than the top border of the primary price channel by $1.57 (4.96%). This indicates a possible reversal in the primary trend direction.

Secondary Trend

Start date: October 12, 2023
End date: April 1, 2024

a = 1.0153

b = 0.0014

s = 0.0207

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0014) – 1
= 66.12%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0207) – 1
= 8.61%

October 12, 2023 calculations

Top border of price channel:

Exp(Y1,119)
= Exp(a + b × X1,119 + 2 × s)
= Exp(a + b × 1,623 + 2 × s)
= Exp(1.0153 + 0.0014 × 1,623 + 2 × 0.0207)
= Exp(3.3135)
= $27.48

Bottom border of price channel:

Exp(Y1,119)
= Exp(a + b × X1,119 – 2 × s)
= Exp(a + b × 1,623 – 2 × s)
= Exp(1.0153 + 0.0014 × 1,623 – 2 × 0.0207)
= Exp(3.2309)
= $25.30

April 1, 2024 calculations

Top border of price channel:

Exp(Y1,235)
= Exp(a + b × X1,235 + 2 × s)
= Exp(a + b × 1,795 + 2 × s)
= Exp(1.0153 + 0.0014 × 1,795 + 2 × 0.0207)
= Exp(3.5527)
= $34.91

Bottom border of price channel:

Exp(Y1,235)
= Exp(a + b × X1,235 – 2 × s)
= Exp(a + b × 1,795 – 2 × s)
= Exp(1.0153 + 0.0014 × 1,795 – 2 × 0.0207)
= Exp(3.4701)
= $32.14

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 66.12% per annum.
  • GLW price at the close of May 2, 2024 was lower than the bottom border of the secondary price channel by $0.24 (0.70%). This indicates a possible reversal in the secondary trend direction.
Stock Price Trends

Check current GLW price trends.

Visit our new 1,500-company website