- There is a risk of a further decline if negative fundamentals will keep adding up.
- Psychological level still plays role of a support.
- Breaking below PL might trigger short-term panic sale.
- In that condition, the next demand point for a assumed reversal would be anywhere price touches 1.618 fib channel.
- Accumulating more would be a solution because GE is already on the lowest levels since 2009. As it declines more people are willing to buy at this cheap price range.
- and indicators are confirming the oversold condition of the stock.
Let’s just watch the impact of 2nd wave of covid19 for now. It’ll get clearer with each new candle of trades.
Anyways, the more it drops, the greater the percentage growth of pullback becomes. :)
I have buy limits set up in certain levels instead.