GENERAL ELECTRIC CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 113.20 |
| Take Profit | 117.50 |
| Stop Loss | 112.00 |
| Key Levels | 104.00, 105.40, 111.00, 112.00, 113.00, 117.50, 118.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 109.20 |
| Take Profit | 105.40 |
| Stop Loss | 110.00 |
| Key Levels | 104.00, 105.40, 111.00, 112.00, 113.00, 117.50, 118.00 |
Shares of General Electric Co., an American diversified corporation, are trading at 111.00 as part of an intensifying global correction.
On the daily chart, the price is moving in a downward range with dynamic boundaries of 113.00–104.00, preparing to overcome its upper limit.
On the four-hour chart, the potential for strengthening the upward movement is confirmed as the quotes are close to the high of October 24 at 113.00, after consolidating above which, there will be no significant resistance on the way to 118.00.
Technical indicators hold a sell signal, allowing for a reversal: fast EMA on the Alligator indicator are below the signal line, narrowing the range of fluctuations, and the AO histogram forms corrective bars in the sales zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 113.20 with the target at 117.50. Stop loss – 112.00. Implementation period: 7 days or more.
Short positions may be opened after a reversal, decline, and consolidation of the price below 109.20 with the target at 105.40. Stop loss – 110.00.
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