Corning Stock Surges 11.86% With Bullish Technical Indicators Aligning

Technical Analysis of Corning (GLW)
Candlestick Theory
Corning’s price action reveals a bullish engulfing pattern on 2025-09-18, closing near the session high ($79.62) after testing support at $77.19. This follows a hammer formation on 2025-09-12 ($75.77 low, $77.04 close), reinforcing $75–$76 as strong support. Resistance is evident near $80, where prices retreated in late August 2025. The recent breakout above $79.65 suggests bullish momentum, though confirmation requires sustained closes above this level.
Moving Average Theory
The 50-day MA (currently ~$68) and 100-day MA (~$63) slope upward, signaling a medium-term uptrend. The 200-day MA (~$54) acts as foundational support. Prices remain above all three averages, affirming bullish alignment. The 50-day/200-day golden cross in mid-2025 preceded the current rally. Short-term dips toward the 50-day MA may present buying opportunities if the primary trend holds.
MACD & KDJ Indicators
MACD shows a bullish crossover (signal line breach) on 2025-09-12, accelerating upward – confirming renewed momentum. KDJ exited oversold territory (below 30) in early September, with the K-line (86) and D-line (78) converging near overbought zones. While not yet extreme (>90), this suggests near-term consolidation risk. No bearish divergence is observed, supporting trend continuation.
Bollinger Bands
Bands contracted sharply in August 2025 (volatility squeeze), preceding the September surge. Prices now ride the upper band (~$79.50), indicating strong upward momentum. Expansion aligns with rising volume, validating the breakout. A close below the 20-period midline (~$74) would signal weakness, but current band width supports bullish bias.
Volume-Price Relationship
Volume surged 25% above average on 2025-09-18’s rally, confirming buyer conviction. Earlier sell-offs (e.g., 2025-09-17’s 10.5M shares) saw higher volume than rallies, hinting at distribution. However, the 2025-07-29 11.86% surge on 17.7M shares (year’s highest volume) established a foundational bullish volume spike. Recent accumulation suggests sustainability.
Relative Strength Index (RSI)
RSI (14-period) sits at 67, nearing overbought territory but not excessive. It rebounded from oversold (<30) in early September, mirroring price recovery. The absence of bearish divergence (e.g., higher highs in price without RSI confirmation) tempers reversal concerns. However, RSI >70 would warrant caution for potential pullbacks.
Fibonacci Retracement
Using the swing low of $44.5 (2024-09-20) and high of $79.65 (2025-09-18), key levels emerge:
- 23.6% retracement: $71.50 (recent support)
- 38.2%: $67.80 (aligns with 200-day MA)
- 61.8%: $60.50 (major demand zone)
The stock held the 23.6% level during August corrections, reinforcing its relevance. Upside extensions target $84.20 (127.2%) and $89.50 (161.8%).
Confluence & Divergence
Strong confluence exists at $75–$76: support from candlestick lows, the 23.6% Fibonacci level, and volume-backed reversals. MACD, KDJ, and RSI align bullishly with no divergences. The sole caution stems from Bollinger Band proximity and RSI nearing overbought, suggesting potential consolidation before challenging $80 decisively. Overall, Corning exhibits robust upside momentum validated by multi-indicator agreement, though prudent risk management near resistance is advised.