General Electric (GE) has a good week last week, up nearly 15%, following some key announcements.
General Electric (GE) has a good week last week, up nearly 15%, following some key announcements.
In the big picture last weeks rally took GE up to its 61% Fibonacci resistance level, based upon the 2007 highs and 2009 lows. At the same time it is meeting a resistance line based upon highs in 2000 & 2007.
A break of dual resistance could bring in buyers to this long-term lagging stocks.
Bottom line at this time, resistance is resistance until broken.
Full Disclosure- Power of the Pattern suggested that Premium Members either own the Long FXI/SPX pair trade or own FXI our right. This trade has been suggested for the past couple of weeks. If would like to receive this type of research daily, I would be honored if you were a Premium Member.
Sign up for Chris's Kimble Charting Solutions' email alerts--click here.
Comments
Log in or sign up to join the conversation.