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General Electric Co., Technical Analysis

1/11/2023 10:03 AM

Global correction in the papers of the American diversified corporation General Electric Co. strengthens, and the stock are trading at 75.00.

On the daily chart, the price moves within an ascending channel with dynamic boundaries at 90.00–67.00, reversing after reaching the support line at 67.00.

On the four-hour chart, the downward wave inside the channel was almost completely formed by the price gap of 67.00–85.00, which is currently being worked out, signaling in favor of continued growth and reaching last year's high around 88.00.

Technical indicators are in a sell state, but after the gap, they are not informative: fast EMAs on the Alligator indicator move below the signal line, and the AO oscillator histogram forms downward bars in the sell zone.

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