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General Electric Co., Technical Analysis

11/10/2022 10:28 AM

Global upward correction in the shares of the American diversified corporation General Electric Co. strengthens, and quotes are traded around 82.00.

On the daily chart, the price is trying to consolidate above the resistance line of the global rising channel with dynamic boundaries 84.00–63.00.

On the four-hour chart, it can be seen that after reaching the resistance line at 84.00, the asset slowed down and is consolidating, gaining the necessary strength to reach 95.60. If the price fails to break this resistance, the decline may continue towards 71.20.

Technical indicators hold a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is forming upward bars high in the buying zone.

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