GEGE, 1-2 week horizon
GE has been trading in a channel for the past month or two.
1. Price currently near the bottom channel support and if it holds, we might be looking for another bullish move.
2. The bottom channel support is quite close to the 50ema which means that there is a chance that price could break thru channel support but bounces up at the 50ema. When this happens, we might be looking at a sideways channel movement.
I am still for the most part bullish on GE because if you look at the weekly time frame, price action has been using the 8ema as support. and MACD seem to be over all bullish.
Cut loss once 50ema support breaks and price action goes below the last two swing low.
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
