Current trend

Shares of General Electric Co., an American diversified corporation, resumed growth within the long-term uptrend: they reached the reversal level of 187.50 (Murrey level [6/8]), near which they have been trading for three weeks in a row, but cannot consolidate above it yet. If successful, the quotes will be able to rise to the upper limit of the Murrey trading range around 200.00 (Murrey level [8/8]) and further into the reversal zone to 206.25 (Murrey level [ 1/8]) and 212.50 (Murrey level [ 2/8]). The key for the "bears" is the central mark of the trading range at 175.00 (Murrey level [4/8]), consolidating below which will open up the opportunity to strengthen the downward dynamics towards the targets of 162.50 (Murrey level [2/8]) and 150.00 (Murrey level [0/8]).

Technical indicators confirm the continuation of the uptrend, which makes further growth of quotes more likely: Bollinger Bands and Stochastic are directed upwards, and MACD is stable in the positive zone.

Support and resistance

Resistance levels: 187.50, 200.00, 206.25, 212.50.

Support levels: 175.00, 162.50, 150.00.

Trading tips

Long positions can be opened from the 190.50 mark with targets of 200.00, 206.25, 212.50 and a stop-loss around 185.30. Implementation period: 5–7 days.

Short positions should be opened below the level of 175.00 with targets of 162.50, 150.00 and a stop-loss around 183.40.