GE is on Higher Highs on the 1W chart for the first time since August 2016. That was the last peak before a strong 2 year bear cycle hit the company. As you see on the chart General Electric's trend is a parabolic Channel starting with the All Time Highs in 2000. This long term curve has entered its asymptotic phase and may initiate the recovery back to the ATH.
At this stage however we choose to focus on the next Bull Cycle which based on the following parameters is about to start:
* As mentioned Higher Highs on 1W.
* RSI on a Channel Up.
* Long term support at 5.50 holding.
A Golden Cross will simply confirm the new Bull Cycle. We are still in the early stages, GE is an excellent long term investment for your portfolio.
Our Target Zone is 28.00 - 32.00.
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At this stage however we choose to focus on the next Bull Cycle which based on the following parameters is about to start:
* As mentioned Higher Highs on 1W.
* RSI on a Channel Up.
* Long term support at 5.50 holding.
A Golden Cross will simply confirm the new Bull Cycle. We are still in the early stages, GE is an excellent long term investment for your portfolio.
Our Target Zone is 28.00 - 32.00.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
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Free Channel: t.me/investingscopeofficial
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial