Impressive consolidation in Corning thus far, pulling back on benign volume after the initial surge. For years, GLW had been the quintessential dead money value trap. However, last December we took a look at the stock when it had a $12 handle on it in this post, seeing the potential for bullish divergences to play out.
I am looking for $15.40 to hold as strong support now to confirm just a shallow pullback. If so, I will view this consolidation as another place to add for long-term holders in a value-trap back from the dead.
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