General Electric Company Stock Code GE.NYS
Outlook
Price broke above the cloud in the previous trading session and closed above the cloud, triggering a bullish reversal. Price also created an Ichimoku V-shaped reversal with a price target at $110.00, which is also close to the resistance at $110.87. Conversion and Base lines has not had a bullish crossover as yet. Lagging Span is above price of 26 days ago but is below the cloud. MACD has a bullish crossover hinting of a bullish price trend ahead. We think price is likely to move higher to the Ichimoku V shaped price projection at $110.00 in the next 2-3 weeks.
Strategy
$104.40 Buy
$110.00 Price Target
$100.80 Risk Management Stop
2 weeks Trade Duration
