Noticed a Inverse Head and Shoulders pattern looking formation here.
The 50 and 200 MAs also looking to converge around the neckline on 4-hr chart.
The neckline at $15 seems to be important, it has held support after a sharp bounce from the lows in the '08-'09 crisis.
If it can't hold above the neckline, some serious selling could occur unless fundamentals change.
Don't have much fundamental basis for a bull view, though. We'll have to wait and see the next ER!
The 50 and 200 MAs also looking to converge around the neckline on 4-hr chart.
The neckline at $15 seems to be important, it has held support after a sharp bounce from the lows in the '08-'09 crisis.
If it can't hold above the neckline, some serious selling could occur unless fundamentals change.
Don't have much fundamental basis for a bull view, though. We'll have to wait and see the next ER!
Nota
Wow, GE took off today!
Watching RSI now, it's overbought territory on the hourly timeframe and nearing overbought on 4-hr and daily times as well.
A pullback from the neckline before a breakout would be a healthy move I'd consider entering in on.
Nota
Getting some consolidation here around the breakout point. Got a small position in call options. Waiting for a solid breakout confirmation to add more!Nota
Nota
Pivotal moment! Will GE hold above $15 for the week? Will volume continue to increase?
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