Fan Yang
1
All posts from Fan Yang
Fan Yang in Fan Yang,

General Electric (GE) Extends Bearish Correction

We recently saw General Electric (GE) stocks break below a key support, opening a bearish outlook. Let's have a quick followup:

GE Daily Chart

(click to enlarge)

Bearish Signals:
- There has been bearish signals since Feb. 2017. 
- The latest one was when price broke below 27.10, bounced up the fell below 27. 
- This bearish breakout and confirmation opens up the 23-24 area, which involves some common support pivots since 2014. 
- At this point, we have to look at 27-28 area as critical resistance, which should hold if the market has indeed turned bearish