Corning Stock Hits $45 in 2025 Rally Fueled by AI Demand - Key Price Levels to Watch

Corning Stock Surges to Highest Level Since 2021

Essential Highlights

• Corning’s shares soared 16% over two trading days, reaching levels not seen since May 2021, driven by heightened demand for its optical connectivity products powering generative AI technologies.
• This price surge coincided with the heaviest weekly trading volume since February 2018, signaling strong investor confidence.
• The stock looks poised to challenge its April 2021 peak of $46.82 soon, following a powerful upward momentum.
• During any pullbacks, key price points at $39, $35, and $31 may serve as attractive buying opportunities.

Shares of Corning Inc. (GLW) have experienced a remarkable 16% jump within just two sessions, hitting a three-year high thanks to an optimistic outlook fueled by the growing adoption of their optical connectivity solutions in generative AI platforms.

We delve into the technical analysis of Corning’s weekly chart to pinpoint critical levels investors should watch as the rally unfolds.

Strong Volume Supports the Uptrend

After rebounding from the lower boundary of a descending channel in late October, Corning’s shares have accelerated sharply upward, breaking through the channel’s upper trendline with conviction.

Notably, this surge is accompanied by the highest weekly volume since early 2018, underscoring robust market participation behind the move.

The Relative Strength Index (RSI) confirms bullish momentum but also warns of overbought conditions with values exceeding 80.

Focus on Multi-Year Highs

Pre-market trading on Wednesday saw Corning’s shares at $45.00, edging closer to their April 2021 high of $46.82.

Investors should remain alert to a possible retest of this resistance level in the near term.

Using a bar pattern projection from the pandemic low to the April 2021 peak, applied to last year’s low, suggests a longer-term price target near $60, indicating significant upside potential.

Key Support Levels to Monitor Amid Potential Profit Taking

Should the stock face profit-taking pressure, watch for buying interest at these vital support zones:

• $39: This level corresponds with the gap created by recent guidance and aligns with historical price action between January 2021 and March 2022.
• $35: A critical horizontal support linked to multiple peaks and troughs from 2018 to mid-2023 and near the 200-day moving average.
• $31: A long-term trendline support dating back to July 2017 that could provide a solid base for buyers.

Disclaimer: The views expressed on ZAMONA are for informational purposes only and do not constitute financial advice. Please review our warranty and liability disclaimer for more details.

Note: The author holds no positions in the securities mentioned as of the publication date.

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