this is the analysis of General Electric stock (ticker: GE), traded on the NYSE, I have published on March 17th, 2013 in my Newsletter.
Please review my video analysis below:
Price in the stock is approaching long term resistance located at the 24 area. On the weekly (long-term) timeframe the stock has also support at the 20.40 area (and extension long entry area), with first target at 24.50 and second target at 26.60. So the stock has a potential setup to push into and beyond the resistance area starting at 24. On a smaller timeframe (daily) support is located at 22.90 with a first target in the 24.10 region, helping prices into the first 24.50 target. If price moves below 22.60 the 20.40 area of support can be retested. Below the 19.60 level the 24 area of resistance is confirmed and there is the potential for price to be pushed towards the 14.80 area.
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