GE Short position (Effort to become Beta Neutral)

Updated
This is the type of short that helps a portfolio stay balanced, in order not to have only longs and be exposed to the overall market trend (SPY, DOW, QQQ) some shorts in the portfolio help resilience and reduce variance.
GE is a Large Cap and so the potential of a huge increase in price and a considerable loss in the short position is reduced.

Trade closed: target reached
Chart PatternsdowntrendParallel Channel

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