GLW Price Prediction Next Week
Based on the provided data and current market status (pre-market on Monday), here's the analysis for GLW's price prediction for next week:
Technical Analysis
The stock is showing strong momentum with RSI at 77.19, indicating overbought conditions. Key technical levels identified:
- Support: $54.01 (accumulated volume support)
- Resistance: First level at $54.95 (fan-theory trend-top)
News Sentiment & Fundamental Catalysts
- Upcoming Earnings: GLW will report Q4 earnings before market open on Wednesday, January 29, 2025. Analysts expect:
- EPS estimate: $0.56 per share
- Previous quarter comparison: Beat estimates by 3.9%
- AI-Related Growth: Strong adoption of optical connectivity products for generative AI has been driving growth. The recent agreement with Lumen Technologies to reserve 10% of Corning's global fiber capacity indicates continued momentum in this segment.
Price Prediction Scenarios
Based on the ATR (Average True Range), expected trading range for next week:
- Upper range: $55.34
- Lower range: $53.16
- Potential swing: ±2.02%
Probability scenarios:
- Bullish Case (60% probability): $55.50-56.00
- Drivers: Strong earnings beat and positive AI-related guidance
- Key catalyst: Optical Communications segment performance
- Neutral Case (30% probability): $53.50-55.00
- Consolidation around current levels
- Support from accumulated volume at $54.01
- Bearish Case (10% probability): Below $53.00
- Risk factors: Overbought RSI (77.19) could trigger profit-taking
- However, limited downside due to strong technical support
Conclusion The most likely scenario is moderately bullish heading into earnings, with potential for short-term consolidation due to overbought conditions. The stock has strong support at $54.01, limiting downside risks. Key focus will be on Wednesday's earnings report and AI-related growth outlook.
GLW Similar Chart Price Prediction
The price of GLW is predicted to go up 12.35%, based on the high correlation periods with COLB. The similarity of these two price pattern on the periods is 97.88%.
GLW
COLB
Up: 12.35%Similarity: 97.88%
GLW Revenue Forecast
GLW EPS Forecast
GLW FAQs
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GLW VS S&P500
Corning boasts a leading share in four distinct end markets: display glass, optical fiber, cover glass, and emissions substrates/filters.
Corning's portfolio is aligned toward global secular trends of increasing connectivity and efficiency.
Corning's debt has the longest average time to maturity of the entire S&P 500, giving it ample time and liquidity to fulfill its obligations.
GLW Analyst's Forecast
Asiya Merchant
Citigroup
Strong Buy
Price Target
$55 → $58
Upside
+12.51%
Citi raised the firm's price target on Corning to $58 from $55 and keeps a Buy rating on the shares. The firm calls Corning a top pick for 2025. The company remains well positioned for secular and cyclical demand recovery across its various segments, coupled with margin expansion potential to drive "strong" earnings growth and shareholder returns, the analyst tells investors in a research note. Citi says that given improving underlying dynamics in Corning's core optical, display and specialty segments, which collectively represent 70% of revenue, it remains bullish on the company's ability to realize revenue and profit potential outlined in its "Springboard plan."
Meta Marshall
Morgan Stanley
Hold
Price Target
$39 → $48
Upside
+0.5%
Matthew Niknam
Deutsche Bank
Strong Buy
Price Target
$46 → $49
Upside
+4.86%