General Electric Company Stock Code GE.NYS
Outlook
Price broke and closed below the cloud on 9 July 2020 starting a bearish trend. During the correction, price was unable to move above the cloud, capped by the upper end of the cloud. The correction could be about to end and the downtrend resuming after price again moved below the cloud. Conversion and Base lines is about to have a bearish crossover. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. MACD is bullish but we could see a bearish crossover soon, hinting of a bearish trend ahead. Both of MACD’s lines are around the zero line and can easily turn bearish. If price is unable to move above the cloud, price could be heading lower to $5.99 or 5.74.
Strategy
$6.90 Short Sell
$6.00 Price Target
$7.30 Risk Management Stop
3 weeks Trade Duration
