GECL trade ideas
How to Trade the Breakout of a Range 101In this post, we will learn how to trade the breakout of a clear range. Let's start learning.
a) First of all, we need a clear Range ( we can say that is clear when we have a support and a resistance level and the price in between for a considerable amount of time)
b) From a technical perspective, the expected movement after a range is broken is the extension of it in the broken direction (green arrow)
c) Also, we will see how that projected movement fits in the context of the chart. In this case, we will look for the next resistance zone.
d) The correct way of identifying a resistance zone is by looking for clear reversal movements in the past. Ignore small corrections. Look for reversal movement and define it with a horizontal line ( in this case, we used 2 yellow arcs to show the idea)
e) Now you can see two things. 1) The projected distance of the range is very similar to the distance towards the next resistance zone 2) You have good space to try to catch a wave
f) But how can I trade a situation like this? You need a CONFIRMATION. In this case, we always wait for corrective structures (remember that corrective structures can be Flat, Zig Zag, Triangles, or Irregulars)
g) Wait for a clear corrective structure on the Edge of the broken Range. IF that happens, you need to define its edges, and from now, it's straightforward. (You can also look for a corrective structure on a lower timeframe; for example, if you define the range on the 4HS chart, you can change your timeframe to the 1H chart.)
h) Open positions on the Breakout of the structure, Set stop loss below the structure, Set take profit on the next resistance zone, Define the risk you will take on the trade
i) Use this as an archetype on how to trade this type of structure.
Have a great day!
$GE$GE formed a nice rounded bottom pattern.
It's moving forward by making higher highs absorbing all the supplies.
Now need a volume spike for a breakout from the neckline of the rounded bottom pattern.
$GE finallyGE has been consolidating for a while, now it seems that report is finally showing signs of recovering by the business, all Ichimoku conservative signals being met, good opportunity for reaching a good profit in the short term.
General Electric HoldPrices moving inside the channel, the idea is to hold for now:
Option 1 - Go short if the resistance level of 8.00usd will not be broken
Option 2- Go Long if the resistance level of 8.00usd will be broken
GE Divergence StudySince the 70's, GE has closely followed a price structured rise of the S&P 500. However, at the end of 2016 you can clearly see GE stock began selling off, diverging in price over next several years while the S&P continued to climb higher. What has my attention about this chart is how price was once in lock step for 40 years, then winds down inversely to an extent.
So, what now? I'm wondering if GE could be entering another bullish cycle as the S&P appears to be finishing out one. In other words, could these two tickers prices flip and diverge opposite again? Let's look at some details below to help us analyze.
1) Technically, there's massive bullish divergence forming on the daily chart for GE. Inversely, I see massive Bearish divergence on the S&P chart (see my profile for this chart idea).
2) Fundamentally, we've seen several consistent years of bad financial news coming from the conglomerate all the while there's been a concerted effort turn things around within the company (i.e. leadership changes, selling off businesses to pay down debts, layoffs, focusing on Aviation, etc. ). It is just recently that we're now seeing positive signs from the company once again. New contracts, debt reduction efforts, FDA approvals in healthcare, etc.. So, could GE be reaching the end of the negative news cycle?
3) Given that FAANG stocks are grossly over valued and major indices are teetering at nosebleed levels... will traders begin seeking cheaper opportunities/hedges in reputable household names. Specifically, would a conglomerate type such as GE be a good investment if there is market uncertainty or worse, decline in the near future?
Time will tell!
NOTE: Not trading or investment advice. Entertainment only.
$GE General Electric Earnings Targets initial reaction to earnings is positive lets see can that carry through
$GE earning is this upcoming weekWith earnings approaching, I think we will see a sell-off and the stock price will fall back into the channel it has been in since covid hit.
great oversold playi know some of you made big gains, good job! look for a dip around 7-7.2 before any more upside. if the breaks then look for a put or short ! :) gl <3
General Electric 4 hourShort. Looking at prices to hit the 7.94 resistance level then go down to retest the 7.24 on the pullback then go upwards
GE Breakout Trade
Big bull bar breaking through EMA200
GE has recently established higher lows and higher highs
General Electric StockPrices are moving inside the channel the idea is to go long - Target Price might be 8.00 USD
GE price action prediction (NOT FOR TRADING)NYSE:GE This is just a price action prediction for monitoring purpose, will look for a long term entry later.
Hit the like button please if you find this useful :)
This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!
GE a new horizon?GE just broke out of it's consolidation area ( 5.96 -7.16), looks like it's heading for a minimum target of 8.40$. This chart pattern is the result of a newly announced deal between PIMCO and GE to create a leasing investment platform.
GE - Above the Red CloudsGE is in a great position with room to run. Levels shown as white lines. Company is under strong leadership who was already working on debt reduction and a redistribution of assets. 7.49 first, then 8+, see you there!!
