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GE- Join the Rally, or Fade? WHATS NEEDED TO BE LONG GE, TECHNICALLY..

GE has been tough to fight.   Were today’s announcements significant in thinking a low is possibly at hand?  Given the psychologically important Kickout of the DJIA after 100 years, sentiment simply couldn’t get much worse, and it’s been difficult to be long, as GE has been cut in half just from last Summer alone.

 

Technically for me, it’s still a bit early.  But OVER 14.14.. or about .37 cents away.. particularly by end of week.. would lead to followthrough and would be right to BUY this stock given a long-term trend breakout and confirmation of both weekly and monthly demark exhaustion counts.

 

Momentum has turned positive on weekly charts and showed bullish divergence on the most recent dip last week to test prior lows-  Momentum has stabilized a bit.. so this has a few other things going for it, despite still trending sharply lower since last year.   The break of the downtrend will be the first real convincing sign.  From a risk/reward perspective however, using the most recent lows as a STOP, or 12.61, there are ample reasons given the recent stabilization to give this a shot for those that like appealing risk/rewards..  Yet for those waiting for the real technical evidence..  it’s still a bit premature.

GE-  WEEKLY-    Chart has intermediate-term trendline resistance from last Summer intersecting 14.14, and would use a move OVER the highs of 2 weeks ago as a confirmed breakout

Note, this would also confirm TD WEEKLY BUYS based on TD SEQUENTIAL. Which have proven difficult to buy into on the way down

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ABOVE 14.11 by the end of June would confirm TD MONTHLY COMBO buys – 13..     Note, a similar but opposite signal appeared right at the highs,  so this would be important if confirmed and would definitely suggest a bottoming process had started on a long-term view.

 

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DAILY GE charts have NOT broken out either on a larger scale, but just a minor few week breakout.

Its thought that 14.14 and then 14.60 are both important.  Above should lead to a fairly large move to 16.

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