General Electric - contrarian buy?
Updated
GE is not the stock you probably want to own given all the heat experienced by the company recently. But from contrarian perspective, nice levels right now to attempt speculative buy. Price retraced by 61.8% of previous bounce and is holding the line of previous resistance. Today may be the third daily candle when 7.8 is held, indicating that good support zone might be formed at around current levels.
Trade: stop at 6.39 (previous low), target at ~13$
Trade closed: target reached
Target reached. Looking for exits
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