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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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...If the dots don't connect, gather more dots until they do...




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Sunday, January 14, 2018

Will GE Ever Recover?

GE looks to be in trouble, as it has failed to hold onto gains made after the 2008/09 financial crisis and has fallen well below longer-term major support.

However, it has just risen above a major price and Fibonacci retracement resistance level (18.66), as shown on the following Monthly chart. It will need to hold above this level and gain strength to reach its next (price) resistance level around 21.40, and, ultimately, its next Fib level at 26.65, or higher.

Watch for any increases in volumes on such a rally to confirm a potential comeback. Otherwise, it may just be a temporary dead-cat bounce.