General Electric (Bullish)

[ian_arifin]

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!!!

[Kristianto]

it is quite surprising that there would be a bullish call on GE.

 

us equities are currently overvalued IMHO...