Corning (GLW) has been the epitome of a “value trap” for years now, disappointing gorilla glass investors to no end as other technology names rocketed to the moon. It has gotten to the point where value investors seem almost too embarrassed to even mention to the name, given the endless heartbreaking rollovers the stock has seen since it’s one glimmer of hope in early-2011.
Currently, Corning is only a few bucks higher than its November 2008 bear market lows. Essentially, the stock is trading where it was during the October 2008 crash.
Nonetheless, with this backdrop in sentiment, the weekly chart below does indeed indicate potential RSI and MACD divergences as priced has dripped lower in recent quarters on slowing downside momentum. Look for a stealth breakout in Corning just as everyone has given up on it.Facebook page