Corning Incorporated : We anticipate a reversal
Entry price | Target | Stop-loss | Potential |
---|
US$14.21 |
US$0 |
US$13.7 |
-100% |
---|
The upward trend could come to support Corning Incorporated in the coming trading sessions.
The company recently enjoyed upward revision in earning per share estimates. Further, the stock is undervalued with a PER 2013 of 10.8x compared to 15.2x in average for the sector.
Technically, the share recently knew a sharp decrease which led it to the USD 13.8 major support level. The latter, combined with the 100-day moving average and a bullish trend line, may help prices to bounce, in the coming trading session.
In this configuration, investors can take a buy order on this level and get a good entry point to aim USD 15.2. A stop must be fixed below the USD 13.8 medium term support.
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