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  1. #1
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    Exclamation General Electric (Bullish)

    General Electric (NYSE) - long-term bullish

    this is what i found from Saxo TA tool

    Current price: 18.7
    Target price range: 20.6 - 21.3
    volume: 80M

    price seems have reach bottom after failing to break through support level and ultimately rising higher in a sign of reversal to a new uptrend.

    double bottom pattern forms during downtrend as price reach 2 distinct lows at roughly same price level.

    volume reflects weakening of downward pressure, tend to diminish as pattern forms, with some pickup at each low, less on second low.

    finally ... price breaks upward above the highest high to confirm the BULLISH SIGNAL!!!

  2. #2
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    Dec 2011
    Thanked 13 Times in 7 Posts
    it is quite surprising that there would be a bullish call on GE.

    us equities are currently overvalued IMHO...

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