General Electric Co.: technical analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 187.00 |
| Take Profit | 200.00 |
| Stop Loss | 183.00 |
| Key Levels | 169.00, 170.00, 174.00, 184.00, 194.00, 200.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 179.00 |
| Take Profit | 169.00 |
| Stop Loss | 184.00 |
| Key Levels | 169.00, 170.00, 174.00, 184.00, 194.00, 200.00 |
General Electric Co., an American diversified corporation, is trading at 184.00.
On the daily chart, the price is moving in a correction trend, forming an ascending channel with dynamic boundaries of 200.00–174.00.
On the four-hour chart, the quotes are heading towards the resistance line of 200.00 and may reach the year’s high of 194.00 this week. The probability of a downward movement to the November low of 170.00 will increase in the event of a decrease and a breakdown on the support level of 180.00.
Technical indicators are preparing to issue a buy signal: fast EMAs on the Alligator indicator are close to the signal line, reducing the range of fluctuations, and the AO histogram is forming correction bars almost at the transition level.
Trading tips
Long positions should be opened after the price consolidates above 187.00, with the target at 200.00. Stop loss — 183.00. Implementation period: 7 days or more. Stop loss — 183.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 179.00, with the target at 169.00. Stop loss — 184.00.
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