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General Electric Co., Technical Analysis

8/24/2022 12:41 PM

Global sideways correction in the American diversified corporation General Electric Co. stocks strengthens, and now the trading instrument is around 76.00.

On the daily chart, the price is trying to grow within a global correction, and after reaching the base Fibonacci 38.2% retracement at 81.20, there was an expected downward pullback to the area of ​​the initial Fibonacci 23.6% retracement at 73.30.

On the four-hour chart, an upward correction may form a global Head and shoulders reversal pattern, the Neckline of which coincides with the base correction level at 81.20, and price consolidation above it will be a key signal for further growth.

At the moment, fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is trading high in the buying zone.

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