GE Analysis {Part III }
Money Flow Analysis.
Above is a weekly chart of GE going back to 2000. GE decisively penetrated a band of support going back to its lows of 2002 last fall. Eventually it is likely that GE will rebound towards that line which is currently around $20.00. GE should have trouble initially penetrating this area of resistance. However that price is almost 80% higher than where the stock is currently trading. The stock is currently significantly oversold meaning sellers across many time frames are likely to at least pause from taking this stock lower. This part of this analysis assumes that there is no new issue that comes from the company.
Above is a weekly chart of GE going back to 2000. GE decisively penetrated a band of support going back to its lows of 2002 last fall. Eventually it is likely that GE will rebound towards that line which is currently around $20.00. GE should have trouble initially penetrating this area of resistance. However that price is almost 80% higher than where the stock is currently trading. The stock is currently significantly oversold meaning sellers across many time frames are likely to at least pause from taking this stock lower. This part of this analysis assumes that there is no new issue that comes from the company.
posted by CR English at 8:58 AM
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