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General Electric Co., Murrey Analysis

11/3/2022 2:54 PM

The shares of General Electric Co., an American diversified corporation, rose for the second month in a row.

During this time, the price reversed from the lower border of the Murrey trading range 62.50 ([0/8]), moved into its positive part, and this week actively tested 78.12 ([5/8]), consolidation above, which will give the prospect of continued growth to the levels 81.25 ([6/8]), 84.38 ([7/8]) and 87.50 ([8/8]).

Technical indicators confirm the continuation of the uptrend: Bollinger bands are growing, and the MACD is increasing in the positive zone. Stochastic exit from the overbought zone does not exclude the development of a corrective decline within the central Murrey channel to 75.00 ([4/8]) and 71.88 ([3/8], the middle line of Bollinger bands), the middle line of Bollinger bands, however, the current downward trend is unlikely will be broken.

Resistance levels: 78.12, 81.25, 84.38, 87.50. | Support levels: 75.00, 71.88, 68.75.

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