Sister stock movement in capital goods stocks like ABB, SIEMENS in past couple of weeks.
ABB gave a weekly Cup & Handle breakout last week.
"Three Soldiers" off from base.
Price above the value area of channel with good volumes.
Any consolidation and breakout is a buying opportunity until price stays above the value area.
Always Think R:R.
GE is on Higher Highs on the 1W chart for the first time since August 2016. That was the last peak before a strong 2 year bear cycle hit the company. As you see on the chart General Electric's trend is a parabolic Channel starting with the All Time Highs in 2000. This long term curve has entered its asymptotic phase and may initiate the recovery back to the...