A couple of days ago, leading specialty glass and ceramics manufacturer, Corning Inc (NYSE:GLW), tumbled after cutting its outlook for two large parts of its business. Corning warned that it is reducing its expectations for its Optical Communications and Display Technologies segments. The stock was trading around $34.00 a share in late July. After the recent news, share of GLW are now trading around $27.90 a share. Currently, the stock is sitting right on its 200-week moving average. This key moving average has been holding as support since mid-August. The longer the stock bases along the 200-week moving average the more likely it is to break lower. The next major support level for GLW will be around the $24.50 level. This support area is where the stock broke out in January 2017. Often, stocks will be defended when prior break-out levels are retested.