GE: An issue of Trust - is it safe yet?GE
Will 2018 be the year GE starts to get better? Who can say and
who can be believed anyway? The chart. It walks while CEO's talk.
GE has pretty much turned dead since the traumas of the Fall.
It's been moving in a very controilled trader-friendly way with
4 perfect hits on the 18.04 line and three on the 17.59 line
before it gave way, falling to new low at 17.36 but finding
buyers since and now trying to break above a fairly minor
trend line from the most recent peak at 17.52 now.
It's likely to get a few buy recommendations for potential
recovery from a few brokers in their New Year's tips sheets
but will need to find enough to push it back above 17.59 and
then hold above here on retests. That would be the first
bullish sign from GE for many a moon - and should be
encouragement enough for other buyers to join in and push
price back up to 18.04 - where it becomes ... a sell again
most likely. All this price action we see on the chart over a
two month period is the equivalent (or fractal) of two hours'
price action on Bitcoin.
