GENERAL ELETRIC CO - Bottomed?
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Good evening everyone,
Lets take a look at G.E stock, as we can see on the weekly chart the stock is going in a very long downtrend since APR 17 , i believe we might've reached the bottom now,
As we can see price finally went out up of the channel, above the 10.0 psichological level.
The entrance should be evaluated on the daily chart, what do we see?
Price is struggling at the current zone and we might have a bearish divergence on RSI;
So i personally recomend to wait the price re-test the 10.0 zone + 50ema + .382 fibo and reject it before going long, dont forget, overall we are still on a bearish trend.
The S.L should be placed under the current bottom and the reasonable targets are ~13.50 and 18 levels.
But for now, wait a pullback we must.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Lets take a look at G.E stock, as we can see on the weekly chart the stock is going in a very long downtrend since APR 17 , i believe we might've reached the bottom now,
As we can see price finally went out up of the channel, above the 10.0 psichological level.
The entrance should be evaluated on the daily chart, what do we see?
Price is struggling at the current zone and we might have a bearish divergence on RSI;
So i personally recomend to wait the price re-test the 10.0 zone + 50ema + .382 fibo and reject it before going long, dont forget, overall we are still on a bearish trend.
The S.L should be placed under the current bottom and the reasonable targets are ~13.50 and 18 levels.
But for now, wait a pullback we must.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Nota
Now its a good time to see if price manages to reject this zone and produces a bullish outlook =)Nota
Looking good so far, the best of both worlds would be a close above 10.0 level.Nota
Price still looking good, if price manage to stay above 10usd level.Nota
Price still managing to reject the 10 usd level , and thats good, however i REALLY DONT like how the last daily candle closed on the bottom with rising volume, hope we get a good opening next week!Nota
Price just consolidating so far, there is still upside room.Nota
Price has lost momentum and now is just above support zone at 9~9.15 usd zone.Doesnt look good, lets see if this level hold the next days
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