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General Electric Co., Technical Analysis

11/22/2022 10:31 AM

Shares of General Electric Co., an American multi-industry corporation, are moving in an intensifying global “bullish” correction, trading at 86.00.

On the daily chart, the price consolidates above the resistance line of the rising global channel with dynamic boundaries 85.00–64.00.

On the four-hour timeframe, it can be seen that after reaching an intermediate 50.0% Fibonacci correction at 87.80, there was a local correction, but keeping the quotes of the trading instrument above the resistance line of the global corridor at 85.00 retains prospects for further growth.

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

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