Corning Incorporated : We anticipate a reversal
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$14.21 | $0 | $13.7 | -100% |
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.