Corning stock is bouncing hard off of a triple bottom. The Twiggs Money Flow has gone positive for the first time in a long time.
Going through the PRs, I don’t really see a strong catalyst for why Corning is rallying, I just know it is.
Corning Stock Chart
That’s pretty crazy. I’m not so arrogant to think I can call a bottom in Corning stock but the Twiggs Money Flow going positive for the first time in months looks pretty awesome.
I don’t like the fact that the stock has so many outstanding shares that its market cap is $23.74 billion and yet the company did $10.12 billion in sales last year. I generally like companies that trade at a market cap closer to annual sales.
Without a catalyst, I’m reluctant to give Corning stock a buy rating but I’m on the fence about it because the technicals look so strong. Just wanted to make you guys aware of the awesome looking chart.
Disclosure: I do not hold any stock in GLW.