Shares of Corning are trading at new 2021 highs as the new month begins. Today’s 3.5% gain extends the stock’s rally since its May 26th breakout(highlighted here: https://twitter.com/GarySMorrow/status/1265715693787344896?s=20) to 80%. During this nine month bull run GLW has moved past its 2018, 2019 and 2020 highs. Despite this big move the stock is far from overbought and is set up well for more upside.
GLW has not closed out a week above $40.00 since Feb. 9, 2001. GLW’s all time high was set back in Sept. of 2000 at $113.20.
We are long GLW in some managed accounts.