Corning Incorporated (GLW)
Corning Incorporated is an American multinational technology company that specializes in specialty glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 68.55% per annum.
- GLW price at the close of April 25, 2025 was $44.18 and was lower than the bottom border of the primary price channel by $8.39 (15.96%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 63.83% per annum.
- GLW price at the close of April 25, 2025 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of GLW price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: September 26, 2023
End date: February 26, 2025
a = 1.4516
b = 0.0014
s = 0.0492
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0014) – 1
= 68.55%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0492) – 1
= 21.77%
September 26, 2023 calculations
Top border of price channel:
Exp(Y860)
= Exp(a + b × X860 + 2 × s)
= Exp(a + b × 1,247 + 2 × s)
= Exp(1.4516 + 0.0014 × 1,247 + 2 × 0.0492)
= Exp(3.3337)
= $28.04
Bottom border of price channel:
Exp(Y860)
= Exp(a + b × X860 – 2 × s)
= Exp(a + b × 1,247 – 2 × s)
= Exp(1.4516 + 0.0014 × 1,247 – 2 × 0.0492)
= Exp(3.1368)
= $23.03
February 26, 2025 calculations
Top border of price channel:
Exp(Y1,215)
= Exp(a + b × X1,215 + 2 × s)
= Exp(a + b × 1,766 + 2 × s)
= Exp(1.4516 + 0.0014 × 1,766 + 2 × 0.0492)
= Exp(4.0761)
= $58.91
Bottom border of price channel:
Exp(Y1,215)
= Exp(a + b × X1,215 – 2 × s)
= Exp(a + b × 1,766 – 2 × s)
= Exp(1.4516 + 0.0014 × 1,766 – 2 × 0.0492)
= Exp(3.8792)
= $48.38
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 68.55% per annum.
- GLW price at the close of April 25, 2025 was $44.18 and was lower than the bottom border of the primary price channel by $8.39 (15.96%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: January 21, 2025
End date: April 25, 2025
a = 8.8092
b = -0.0028
s = 0.0447
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0028) – 1
= -63.83%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0447) – 1
= 19.56%
January 21, 2025 calculations
Top border of price channel:
Exp(Y1,190)
= Exp(a + b × X1,190 + 2 × s)
= Exp(a + b × 1,730 + 2 × s)
= Exp(8.8092 + -0.0028 × 1,730 + 2 × 0.0447)
= Exp(4.0779)
= $59.02
Bottom border of price channel:
Exp(Y1,190)
= Exp(a + b × X1,190 – 2 × s)
= Exp(a + b × 1,730 – 2 × s)
= Exp(8.8092 + -0.0028 × 1,730 – 2 × 0.0447)
= Exp(3.8992)
= $49.36
April 25, 2025 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(8.8092 + -0.0028 × 1,824 + 2 × 0.0447)
= Exp(3.8159)
= $45.42
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(8.8092 + -0.0028 × 1,824 – 2 × 0.0447)
= Exp(3.6373)
= $37.99
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 63.83% per annum.
- GLW price at the close of April 25, 2025 was inside the secondary price channel.