This a follow-up to the GE idea about the downtrend it started on May '17 through May '18. GE just broke down another support level at $12.60 after failing to even test the $14 mark. Right now the support break tells us that the stock is still weak, but it is still a little early to call it a bankruptcy confirmation. The stock is weak and would not be a great idea to buy now, whether to trade or to invest, but even though it looks short the downtrend has been stretched out for a long time.
Single digit numbers (below $10) would be really interesting but sad if it happens. Just like before, if GE holds below its $13.50 level and makes a correction to the downside, it would confirm my bias about poor performance based on the price action. As short as I am on this stock, it is still only a waiting game until a further sign of weakness appears.
Again, let's keep watching GE till about December to see if it makes up its mind. We will see how this plays out.
Single digit numbers (below $10) would be really interesting but sad if it happens. Just like before, if GE holds below its $13.50 level and makes a correction to the downside, it would confirm my bias about poor performance based on the price action. As short as I am on this stock, it is still only a waiting game until a further sign of weakness appears.
Again, let's keep watching GE till about December to see if it makes up its mind. We will see how this plays out.
