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Corning, Inc. [GLW] stock for 479,664 USD was sold by Evenson Jeffrey W

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Corning, Inc. shares valued at $479,664 were sold by Evenson Jeffrey W on Jun 05 ’24. At $37.39 per share, Evenson Jeffrey W sold 12,830 shares. The insider’s holdings dropped to 57,280 shares worth approximately $2.28 million following the completion of this transaction.

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Also, Bell Michael Alan sold 20,152 shares, netting a total of over 705,320 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 0 shares.

Before that, Seetharam Soumya had sold 23,291 shares from its account. In a trade valued at $792,211, the Senior Vice President & CDIO traded Corning, Inc. shares for $34.01 each. Upon closing the transaction, the insider’s holdings decreased to 23,291 shares, worth approximately $1.99 million.

As published in a research note from Fox Advisors on June 17, 2024, Corning, Inc. [GLW] has been rated up from an Equal weight to an Overweight and the price target has been revised to $45. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid June. As of May 30, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for GLW. Earlier on May 07, 2024, Mizuho initiated its rating. Their recommendation was “a Neutral” for GLW stock.

Analyzing GLW Stock Performance

During the last five days, there has been a surge of approximately 4.81%. Over the course of the year, Corning, Inc. shares have jumped approximately 30.87%. Shares of the company reached a 52-week high of $40.45 on 06/20/24 and a 52-week low of $29.71 on 01/17/24. A 50-day SMA is recorded $34.75, while a 200-day SMA reached $31.51. Nevertheless, trading volume fell to 9.04 million shares from 15.81 million shares the previous day.

Support And Resistance Levels for Corning, Inc. (GLW)

According to the 24-hour chart, there is a support level at 39.49, which, if violated, would cause prices to drop to 39.13. In the upper region, resistance lies at 40.33. The next price resistance is at 40.81. RSI (Relative Strength Index) is 72.02 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.76, which suggests the price will increase in the coming days. Percent R is at 15.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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