General Electric Company GE.NYS
Outlook
Price closed below the cloud yesterday. Base and Conversion lines had a bearish crossover a few days earlier. There was a gap opened earlier, hinting of a downtrend. This could be the start of a bigger correction in price after a rally that began in Dec 11 2018 from $6.66, which brought price to a high of $11.75. The current decline could be the second part of a bigger correction. Using Fibonacci, an equal movement to the first part of the correction will likely bring price down to $8.50. MACD has turned bearish and is moving lower, which is in line with price’s likely direction.
Strategy
$9.15 Short Sell
$8.50 Price Target
$9.50 Risk Management Stop
2 weeks Trade Duration
Advanced Micro Devices Inc. Stock Code AMD.NAS
Outlook
Price is supported by the Conversion line and there was a gap support zone from $26.72 to $27.18. As long as this support zone holds, price could be about to test the previous high of $29.95 again. Overall, the trend is bullish as price is above the cloud and above both Conversion and Base lines. Price advance together with Conversion and Base lines, have steep positive gradient, hinting of a strong bullish trend. MACD is bullish and is high above its zero line, hinting again of a strong bullish price trend.
Strategy
$27.70 Buy
$26.50 Price Target
$29.95 Risk Management Stop
3 weeks Trade Duration
