Corning (GLW) breakdown on the double top

Stock: Corning Inc. (GLW)

Long or Short: Short

Entry: 12.04

Stop-Loss: $12.44

Chart: Corning Inc. (GLW) Daily

Corning GLW Swing trade setup short

Reason for Trade: GLW is setting up nicely to fill that huge gap below. It could be said that I got in early, but I did so to keep the risk tight. Below $12, this stock will then be in the process of filling the gap, so it is important that we get the sub-$12 close today. If not, it isn’t the end of the world, but could setup for tomorrow as a bounce off of support, but I personally think the overall pattern from the past three months is very bearish and casts doubt on any possible bounce off of $12 that we might get. 

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