The stock of General Electric (GE.US) has been in an uptrend for quite some time. Looking technically at the D1 interval, the course braked into growth in mid-October 2024, followed by profit-taking. The downward movement took the shape of a straight ABC correction, and the $160 level, effectively acted as support. In addition, the price returned above the exponential average of the last 150 periods. This average was matched with the front lows of October 2023, April 2024, and August 2024, among others. The return of the price above the average, may encourage buyers to be more active. If, in addition, the price in the coming days crosses the upper limit of the local downward channel, the upward scenario will be confirmed. Then even the recent maximum at $194 will become the target for upward movement. On the other hand, the upward scenario will be negated only when the price falls later the zone at $160.
_182749d251.png)
GENERAL ELECTRIC (GE.US) chart D1 interval.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
