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.
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GENERAL ELECTRIC (GE.US) chart D1 interval.
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