Corning Stock Surges 11.86% On Heavy Volume As Technicals Signal Bullish Momentum

Corning (GLW) exhibited significant bullish momentum in the latest session, surging 11.86% to close at $61.98 on July 29, 2025, after gaining 0.09% the prior day. This two-day advance of 11.96% occurred alongside expanding volume (17.7M shares vs. 5.98M previous day), signaling strong buying pressure near the $57.93–$62.98 trading range. The following technical analysis evaluates key patterns and indicators.
Candlestick Theory
The recent back-to-back bullish candles, culminating in a long green body on July 29, demonstrate decisive rejection of the $55–$56 support zone. This pattern invalidated the prior bearish consolidation between July 24–25 ($54.89–$56.07), establishing $57.93 as immediate support. Resistance now consolidates near $62.98 (July 29 high), with psychological resistance expected around $65. The 61.98 close—near the session high—indicates sustained buying interest.
Moving Average Theory
The 50-day, 100-day, and 200-day moving averages exhibit a bullish alignment (50 > 100 > 200), confirming a long-term uptrend. Price action remains above all three averages, with the 50-day SMA ($53.20) recently acting as dynamic support during the July pullback. The accelerated gap above the 50-day SMA on July 29 suggests strong trend momentum. Current positioning implies robust support near $53–$54, with the 200-day SMA ($47.80) serving as major long-term support.
MACD & KDJ Indicators
The MACD histogram shows strengthening bullish momentum, with the MACD line crossing above the signal line on July 23 and expanding since. Concurrently, the KDJ indicator exited oversold territory (K=15, D=12) on July 23 and entered overbought zones (K=89, D=83) by July 29, signaling momentum acceleration. While KDJ’s overbought reading warrants caution, alignment with MACD’s bullish crossover supports continuation potential.
Bollinger Bands
Bollinger Band width expanded sharply on July 29, reflecting the surge in volatility. Price closed near the upper band ($63.10), typically indicating overextended conditions, though persistent upper-band tagging can denote strong trends. The July 21–25 consolidation occurred near the middle band ($54.80), validating it as support. Traders should monitor for mean-reversion toward $58–$59 (middle band) or continued band expansion if bullish momentum sustains.
Volume-Price Relationship
The 197% volume surge on July 29 (17.7M shares vs. 5.98M previous day) confirmed bullish conviction during the breakout. Notably, down days like July 25 saw reduced volume, suggesting limited selling pressure. The volume-weighted average price (VWAP) since May 2025 rests near $52.80, below current prices—favoring bulls. Sustained volume above the 10-day average (6.2M) is critical for trend continuation.
Relative Strength Index (RSI)
RSI(14) spiked to 78 on July 29, entering overbought territory. While historically signaling pullback risk, this reading coincides with strong fundamentals and momentum—similar to prior overbought rallies in April and June that extended gains before mean-reversion. Traders should note divergences; currently, RSI aligns with price strength, though consolidation may occur to alleviate overbought conditions.
Fibonacci Retracement
Applying Fib levels to the swing low of $39.74 (July 30, 2024) and recent high of $62.98 (July 29, 2025), key retracement supports emerge at $57.49 (23.6%), $54.10 (38.2%), and $51.36 (50%). The $57.93 low on July 29 precisely respected the 23.6% retracement, reinforcing its technical significance. Confluence exists between the 38.2% Fib ($54.10) and the 100-day SMA ($53.60), making $53–$54 a high-probability support zone should retracements deepen.
Confluence and Divergence Observations
Notable confluence exists near $53–$54 (38.2% Fibonacci, 100-day SMA, VWAP, and prior consolidation zone), establishing a critical support area. The July 29 breakout aligned MACD, KDJ, volume expansion, and candlestick patterns. Minor divergence exists via RSI’s overbought signal against other indicators; however, this reflects momentum extremes rather than bearish reversal evidence. Absent volume deterioration or closes below $57.93, the bullish bias remains dominant.