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General Electric Co., Murrey Analysis

12/13/2022 3:19 PM

Shares of General Electric Co., an American diversified corporation, have been rising since mid-October. During this time, the price rose to the upper limit of Murrey's trading ranges around 87.50 ([8/8]) but failed to break higher and has now turned to the decline, trying to change the trend. Quotes fell below the middle line of Bollinger bands and are testing the pivot level 81.25, consolidation below which will give the prospect of further weakening to the middle line of the trading range at 75.00 ([4/8]) or to 71.88 ([5/8]). The key "bullish" level is 87.50, and its breakout allows growth to 90.62 ([+1/8]) and 93.75 ([+2/8]).

Technical indicators do not give a single signal: Bollinger bands are reversing downwards after a long rise, MACD is preparing to move into the negative zone and form a sell signal, but Stochastic is approaching the oversold zone, which does not exclude a reversal and resumption of growth.


Resistance levels: 87.50, 90.62, 93.75. | Support levels: 81.25, 75.00, 71.88.

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