GE formed bullish shark a good long opportunityPriceline of GENERAL ELECTRIC CO (GE) Stocks has completed a bullish shark pattern and entered in potential reversal zone.
From here price aciton will take bullish divergence soon insha Allah.
I have defined targets using Fibonacci sequence as below:
Buy between: 9.33 to 8.94
Sell between: 9.67 to 10.42
Regards,
Atif Akbar (moon333)
GE trade ideas
Possible 3rd Quarter Break Out for GEI was looking at this trying to determine a downward trend for GE but based upon the RSI and MA I am more optimistic that there may be an upward tick coming. I would suggest watching this for the next few weeks as it test the support / resistance barriers. Earning were nothing special but RSI suggest there may be a slight undervaluation here.
GEI'm playing with this chart in an effort to identify a new pattern for the trend reversal I believe we're about to see with GE. I'm watching GE on the monthly as this one is a long term play but I'm bullish on GE for the next 5 years. There is a possibility that GE could lose 25% of its value and wind up in the ~$8 range or even lose 50% of it's value winding up in the ~$6 price range but if you're in this one as a long term play I'd look to ~$19 (50% increase for current price of ~$12) as the next resistance and possible exit.
GE's RSI is in territories it's not seen for a decade(which was the crash of 08) but even before then GE has always remained above 30RSI with the exception of 1 other time back in 74'; although I'd be looking for a little resistance when RSI approaches 46. Either way, I'm bullish on GE. Also, according to GE's CEO I think GE has some projects lined up that will position them to see good gains in the next couple of years.
As always, let me know what you think. *This is not financial advice.
Daily GE stock price trend forecasts analysis 15-JUL
Investing position: In Falling section of high risk & low profit so far. But it would be in rising section tomorrow
S&D strength Trend: In the midst of a rebounding trend of upward direction box pattern price flow marked by limited falls and upward fluctuations.
Today's S&D strength Flow: Supply-Demand strength has changed to a strengthening selling flow when stock market opening.
read more: www.pretiming.com
Forecast D+1 Candlestick Color : GREEN Candlestick
%D+1 Range forecast: -0.1% (HIGH) ~ -0.8% (LOW), -0.2% (CLOSE)
%AVG in case of rising: 2.3% (HIGH) ~ -1.0% (LOW), 1.3% (CLOSE)
%AVG in case of falling: 1.0% (HIGH) ~ -2.5% (LOW), -1.7% (CLOSE)
pin bar daily candle @ 200 day EMA pretty simple set up ill be looking for a break above 10.57 to go long, if the scenario ends up a bearish one ill look for a break of that pivot level to take us down to S1 or that red support for a 3rd test 9.50-9.60 area, would be a great spot to get bullish again if we test and hold that 9.50-9.60 area
GE - Daily 7-7-19Upside:
- Ascending triangle forming over the past month
- The bottom of the ascending triangle is closely in-line with the 20-day SMA, providing additional support
- Inverse head and shoulders set-up forming since early February
Downside:
- Stock price has failed to break above $10.71-$10.72 on three separate days, potentially leading to a double-top set-up
- Volume has slowly been trending down
Notable Prices:
- Top of ascending triangle (also potential double top level) is $10.72
- Bottom of triangle and 2-day SMA is $10.35
I am watching to see which way out of this narrow range the stock price breaks and the volume that is associated with it.