For General Electric shareholders.
- 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.
- RSI and MACD indicators are confirming the oversold condition of the stock.
Comment:
I'm not necessarily saying that the stock will drop, I'm implying that if it really drops to those levels, that would be the lowest point in 25 years! So having invested at such price or "trading the pullback" would be just fine by me.
