has seen a huge squeeze up on huge volume
and a positive earnings
beat. The top of the trend has been clearly marked with a shooting star inverted hammer
. I would also like to note that GE
saw huge volume
in options contracts on Tuesday with nearly 300,000 contracts being traded in what looked to be a covered call at the 35 strike price. I expect GE
to retrace to the .5 or .618 level which would give me a target of 26.90 and 26.25. Long term I think GE
will continue to rise, but as of now GE
looks poised for a slight retrace.
Thanks for viewing and please drop some comments.