GLW faces further downside risk toward 80-90 if the 50-week SMA breaks; a recovery above the 20-week SMA negates this outlook.

Yeah. Uh Corning down uh on news from Friday, but the offering, I believe, but then also being hit with the AI news. So, Corning double gap down here it looks like uh today.

If I remove the uh volume threshold that I have and we make this big caps, we're going to have GLW and Nokia at the top of the gap down list. I think it was Buffalo by Bicycle that asked about this um earlier.

Corning shares are trading lower after the company announced a $2 billion offering. That was Friday after hours. Obviously, it's moving lower here this morning with some of the AI news as well.

Here's what the Corning chart looks like. 13, did you maybe this is a good segue here. We can kind of take a look at GLW and then we can take other um requests from the chat on some of the other stocks that folks are looking at. So, maybe we'll start here with GLW.

I'll I'll I'll give it a little shot here, then I'll turn it over to you. Um, this was looking okay. This was looking We were kind of trading sideways. It looked like it wanted to move to the top end of the range here.

We were able to get above the 50, but the gap down here kind of resets all that. We cough up the 50. We cough up the 20. Next battle here seems to be at the 200. That value is at 14587.

You want to call it 146, that's fine. Six points beneath where we're at right now. So, um, let me know what do

so we are coming down to the 200 day SMA, and I think we're going to want to see some support in there. There's also a uh a trend line you could draw from the low in July through the uh low uh from September 3rd.

And that lines up pretty well with the 200 day SMA. So, you do have some, you know, technical indicators that are are showing that there may be some support coming uh in the uh 145 area.

I'm not sure that that's necessarily going to hold up.

when I look at the weekly, it looks like a little bit more of a a dire situation. And I don't mean dire as in this thing is going to start really giving a whole lot up, but it looks like this is still going to come in a bit more. looking at the weekly chart, you have the 20week estimate.

The price has been riding up since last year and we just lost that uh moving average back in uh July uh of the middle of July and we have not been able to recapture it since uh despite multiple attempts of trying to do so.

Have been getting support from the 50 uh week SMA but I get the sense that because of this consistent rejection of the 20week SMA could go on to lose that uh that 50 uh week SMA.

I don't think there's going to be a lot of downside on that uh loss. I have support level down at um at 113 uh to 14, but if we lose that, then it could uh get a lot worse.

So, for now, I'm thinking that um there is going to be some more downside here. There has been some trouble trying to uh you know, recapture that 200 that 20we SMA. Uh so if we do get that downside, I'm thinking that this is probably going under 100 and we're going to look at some support around the uh I would say 80 to 90 range uh before we start turning back up.

That's just what the uh the weekly charts uh telling me here.

And it's you know that depends on whether or not we lose the 50we SMA and go on to uh you know retest those uh lows from uh July that and and and fall through it. So, we're between the 50 and 20we SMAs.

If we break up to the uh the upside on the 20, then then never mind everything I just said. We're we're back in business. We can't do that. We lose the 50we estimate, then I think we're coming into those that 8090 range.

Sorry, Buffalo. I'm a buyer of GLW. I'm going to wait though. I'm still green on my position and my ad levels are 135 and 125.

So you're actually one of those is right around the volume point of control that goes back pretty much encompasses all year here. And that's and that's very very close to that 50we SMA.

That 50we SMA is 13652. So you know we could overshoot that a little bit come right back up and still close the week above that. But it's it's so your ad level is very very close to one of these support levels that I think needs to hold up.

Um, and then to the downside, what was another? Uh, so 125 was the next one uh that you said. And that is Okay, I can I guess I can see that too. Yeah, I mean 125 it actually looks like it kind of holds this 120 uh impulse candle from July 27th as well as kind of the rounding bottom from February, March.

I I honestly like your 135 uh level better than your 125. I think if the we lose out 135, then you're you're definitely looking at uh that that 125 test, if not a move down through it eventually.

That would be my that would be my uh my my view on it. I liked your your 135 much better.