On a long-term chart, there are resistance at $6.65, $7.50 and a big one at $9.20. On the negative side, there is support at $5.70. If that gets broken then we are looking at $4.20.
Lets see how this plays out.
Wednesday, March 4, 2009
GE - Swing Traders' Dream?
GE fell below $5 at one point today on a big volume but closed at $6.69. Although there are stories about investors betting on GE's fall with massive volume around $5-put there is a big chance that it will rebound for at least couple of days from the current low. GE is forming a typical reversal pattern on candlestick chart at a long-term support level but this has to be confirmed by moves over the next few days.
On a long-term chart, there are resistance at $6.65, $7.50 and a big one at $9.20. On the negative side, there is support at $5.70. If that gets broken then we are looking at $4.20.
Lets see how this plays out.
On a long-term chart, there are resistance at $6.65, $7.50 and a big one at $9.20. On the negative side, there is support at $5.70. If that gets broken then we are looking at $4.20.
Lets see how this plays out.
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