GE 1 Year Analysis (Price Action)
Updated
Beginning in late September and early October of 2020, we started to see a recovery of GE from a huge decline due to covid in march having the stock price decrease from about 12.5 to 6.5.
After staying relatively neutral for about 6 months, it finally showed signs of an uptrend around fall. It first surpassed the 100SMA in late September and intersected the 10SMA and 200SMA in early November to confirm an upward trend in price action.
The channel I have displayed is the time it initially introduced its electric car concept to compete with the US's powerhouse, Tesla, and China's head manufacturer, Nio.
It has been remained above support levels since November and has seen a percentage change in 80%, nearly doubling from 7.5 to 13.5.
Due to my analysis on this 1year price action, I am long on GE and I'm very bullish in the long term as I suspect it will see considerable yet safe growth in the next 6 months-1year.
After staying relatively neutral for about 6 months, it finally showed signs of an uptrend around fall. It first surpassed the 100SMA in late September and intersected the 10SMA and 200SMA in early November to confirm an upward trend in price action.
The channel I have displayed is the time it initially introduced its electric car concept to compete with the US's powerhouse, Tesla, and China's head manufacturer, Nio.
It has been remained above support levels since November and has seen a percentage change in 80%, nearly doubling from 7.5 to 13.5.
Due to my analysis on this 1year price action, I am long on GE and I'm very bullish in the long term as I suspect it will see considerable yet safe growth in the next 6 months-1year.
Note
Beginning in late September and early October of 2020, we started to see a recovery of GE from a huge decline due to covid in march having the stock price decrease from about 12.5 to 6.5.After staying relatively neutral for about 6 months, it finally showed signs of an uptrend around fall. It first surpassed the 100SMA in late September and intersected the 10SMA and 200SMA in early November to confirm an upward trend in price action.
It has been remained above support levels since November and has seen a percentage change in 80%, nearly doubling from 7.5 to 13.5.
Due to my analysis on this 1year price action, I am long on GE and I'm very bullish in the long term as I suspect it will see considerable yet safe growth in the next 6 months-1year.
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