Today we'll analyze the Stock GE for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 35.83$ (02/01/08) to 32.23$ (03/07/08) a 3.60$ move
2- The current bullish trend started from 32.23$ at 03/07/08 and is currently trading at 37.56$.
3- The stock current support level is at 36.81 which is the 127.20% fibonacci retracement of the last 3.60$ move.
4- The stock current resistance level is at 38.05 which is the 161.80% fibonacci retracement of the last 3.60$ move.
5- According to ADX, the trend is currently strong bullish,which is becoming weaker.
Short term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 35.83 and 41.04 that was broken up at 37.49 transforming into a supporting line.
Mid term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 35.83 and 41.04 that was broken up at 37.49 transforming into a supporting line.
Long term chart patterns :
8- The Stock was supported by a support line, identified by two points: 32.23 and 30.43, and is currently supporting at 32.3137.
Conclusion:
GE was trading in a strong bullish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 38.05.
Support Levels: 36.81, 36.30, 35.83, 35.52, 34.90, 34.45, 34.27, 34.03, 33.61, 33.33, 33.29, 33.08, 33.07, 32.31, 32.23,.
We Moved!!
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Monday, April 7, 2008
General Electric Company (GE) Technical Analysis
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Shadi
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