Three tech giants just signed billion-dollar contracts with the same company.

Meta committed up to $6 billion in January. Two more hyperscale tech companies signed long-term deals last week, similar in size to the Meta agreement.

The supplier is Corning (GLW), the 175-year-old glass company based upstate in New York, and the contracts are for the optical fiber that runs inside AI data centers.

When I see three of the biggest tech companies in the world all writing checks to the same supplier inside the same six months, I want to know what the chart looks like.

AI data centers need roughly 10 times as much optical fiber as traditional cloud computing, and Corning is the dominant U.S. manufacturer. The company is not pitching the AI thesis. It is sitting on contracts and reporting the revenue.

The earnings last week beat expectations.

Optical fiber sales were up 36% year over year, the solar segment was up 80%, and Q2 guidance came in another 14% above last year. The stock dropped 10% anyway because some analysts looked at the price-to-earnings ratio and called the run too rich, but a week later Corning closed at $162, higher than it traded the day before earnings hit.

The dip got bought fast.

That is the kind of price action that puts a stock on my watchlist. I trade momentum, and the chart for Corning shows me a clean momentum setup.

Here is what I mean.

There are three moving averages I check first for any name: the 8-day EMA and 20-day EMA, which are short- and medium-term momentum indicators, and the 200 SMA, which is the long-term trend.

When all three are stacked in order with the 8 on top, the 20 underneath, and the 200 below that, the trend is strong on the timeframe you are looking at.

On Corning, that stack holds on both the daily and weekly charts. Daily momentum and weekly trend pointing in the same direction is the setup I watch for.

Underneath that, a squeeze is forming on the daily chart. That is what happens when a stock’s daily range gets so tight the price coils up like a spring, and almost every time it breaks one direction or the other within a few weeks.

The trend is bullish, the squeeze is forming, and the catalyst is today.

Your Action Plan

Corning is hosting an investor event at the New York Stock Exchange this morning. Management plans to update the company’s growth plan, extend the timeline through 2030, and introduce a new platform designed to sell optical components to AI hardware makers.

The CEO is also doing a CNBC interview today. Investor events at companies with this kind of momentum are usually where forward guidance gets bumped, and that bump is what tends to keep the trend running.

GLW is up 85% on the year and 300% over the last twelve months. I have watched a lot of charts that look like this go a lot higher.

This is the kind of name and setup I work through every morning live in Daily Profits Live, where I show the entries, the exits, and how I manage the trade in real time.

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