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 72.79% per annum.
- GLW price at the close of January 24, 2025 was $54.25 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 26.35% per annum.
- GLW price at the close of January 24, 2025 was higher than the top border of the secondary price channel by $1.83 (3.48%).
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: October 12, 2023
End date: January 24, 2025
a = 1.2160
b = 0.0015
s = 0.0456
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0015) – 1
= 72.79%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0456) – 1
= 20.01%
October 12, 2023 calculations
Top border of price channel:
Exp(Y935)
= Exp(a + b × X935 + 2 × s)
= Exp(a + b × 1,354 + 2 × s)
= Exp(1.2160 + 0.0015 × 1,354 + 2 × 0.0456)
= Exp(3.3361)
= $28.11
Bottom border of price channel:
Exp(Y935)
= Exp(a + b × X935 – 2 × s)
= Exp(a + b × 1,354 – 2 × s)
= Exp(1.2160 + 0.0015 × 1,354 – 2 × 0.0456)
= Exp(3.1537)
= $23.42
January 24, 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(1.2160 + 0.0015 × 1,824 + 2 × 0.0456)
= Exp(4.0403)
= $56.85
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(1.2160 + 0.0015 × 1,824 – 2 × 0.0456)
= Exp(3.8579)
= $47.37
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 72.79% per annum.
- GLW price at the close of January 24, 2025 was $54.25 and was inside the primary price channel.
Secondary Trend
Start date: October 9, 2024
End date: January 24, 2025
a = 2.7354
b = 0.0006
s = 0.0277
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 26.35%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0277) – 1
= 11.71%
October 9, 2024 calculations
Top border of price channel:
Exp(Y1,184)
= Exp(a + b × X1,184 + 2 × s)
= Exp(a + b × 1,717 + 2 × s)
= Exp(2.7354 + 0.0006 × 1,717 + 2 × 0.0277)
= Exp(3.8908)
= $48.95
Bottom border of price channel:
Exp(Y1,184)
= Exp(a + b × X1,184 – 2 × s)
= Exp(a + b × 1,717 – 2 × s)
= Exp(2.7354 + 0.0006 × 1,717 – 2 × 0.0277)
= Exp(3.7801)
= $43.82
January 24, 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(2.7354 + 0.0006 × 1,824 + 2 × 0.0277)
= Exp(3.9594)
= $52.42
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.7354 + 0.0006 × 1,824 – 2 × 0.0277)
= Exp(3.8486)
= $46.93
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 26.35% per annum.
- GLW price at the close of January 24, 2025 was higher than the top border of the secondary price channel by $1.83 (3.48%).