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General Electric Co., Murray Analysis

9/22/2022 3:22 PM

The stocks of General Electric Co. resumed their decline within the framework of a long-term downward trend: in the middle of last month, the price reached a reversal level of 81.25 ([6/8]), but could not break above it and went into correction.

Currently, the quotes are testing the level of 65.62 ([1/8]), consolidation below which will allow them to reach the lower limit of the Murray trading range of 62.50 ([0/8]) and then the reversal zone in the area 59.38 ([-1/8]), 56.25 ([-2/8]). In general, the downward trend continues, as indicated by a downward reversal of the Bollinger Bands and an increase in the MACD histogram in the negative zone. Nevertheless, the exit of the Stochastic from the oversold zone does not exclude growth to the level of 71.88 ([3/8]), supported by the middle line of the Bollinger Bands, but it is unlikely to lead to a reversal of the current trend.

Resistance levels: 68.75, 71.88. | Support levels: 65.62, 62.50, 59.38, 56.25.

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