General Dynamics still heading for 340 no need to panic
Here's my analysis on General Dynamics Corporation:
Similar to Raytheon, we've activated a large overarching structure and reacted at the trend reversal area. At the resistance line, the market turned. On the way to this resistance line, we activated a sub-ordinate purple structure and ended it slightly above the resistance in its target levels, with a slight over-correction.
I expect we'll move into the OCL (Overall Correction Level), marked in blue. It's crucial to observe if we head straight down to initiate a trend reversal to finally complete the orange structure, or if we first see some upward movement into the green level, potentially forming a bearish structure.
If a bearish structure forms, we might shift our target levels lower, possibly aiming for the lower line of the OCL. If not, the upper line remains relevant, and I expect a trend reversal upwards to complete the orange structure.
The main question remains: how many obstacles will we face along the way, and how bumpy will the journey be?
Similar to Raytheon, we've activated a large overarching structure and reacted at the trend reversal area. At the resistance line, the market turned. On the way to this resistance line, we activated a sub-ordinate purple structure and ended it slightly above the resistance in its target levels, with a slight over-correction.
I expect we'll move into the OCL (Overall Correction Level), marked in blue. It's crucial to observe if we head straight down to initiate a trend reversal to finally complete the orange structure, or if we first see some upward movement into the green level, potentially forming a bearish structure.
If a bearish structure forms, we might shift our target levels lower, possibly aiming for the lower line of the OCL. If not, the upper line remains relevant, and I expect a trend reversal upwards to complete the orange structure.
The main question remains: how many obstacles will we face along the way, and how bumpy will the journey be?
Here, I share my market outlooks, highlighting key levels and directions I'm watching. This isn't financial advice—just my perspective. Don't follow blindly; always do your own research.
Here, I share my market outlooks, highlighting key levels and directions I'm watching. This isn't financial advice—just my perspective. Don't follow blindly; always do your own research.
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