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.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Oct. 16 @ 2:00 pm ET ~ Beige Book Report
* Wed. Oct. 30 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Nov. 1 @ 8:30 am ET ~ Employment Data
* Wed. Nov. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Nov. 20 @ 2:00 pm ET ~ FOMC Meeting Minutes
*** Click here for link to Economic Calendars for all upcoming events