Shares of General Electric Co., an American multi-industry corporation, are moving within a global upward correction at 82.00.
On the daily chart, the price is within an ascending channel with dynamic boundaries 89.00–65.00 and reverses after reaching the resistance line at 88.00.
On a four-hour timeframe after reaching the resistance line, the quotes formed a Head and shoulders reversal pattern with the Neckline at 84.00, which has already begun to work out, and the downside potential is currently higher.
Technical indicators are ready to reverse and receive a sell signal: fast EMAs on the Alligator indicator have crossed each other and are approaching the signal line, while the AO oscillator histogram is forming downward bars, almost reaching the transition level.