GE(General Electric) - What Should You Know About GE?

NYSE:GE   General Electric Company
GE(General Electric) - Beware of GE

As you can see from the chart, the price is near a strong resistance zone .

When the price was tested in that area in the past, we can see strong bearish price reactions.

The resistance zone located near $90 pushed the price down several times time
starting from May 18, February 20 (covid-19), March 21, June 21, and November 21.

The initial price reaction may again be aggressive and may push the price down again.

Usually, these are areas where sellers are well positioned on the daily chart
and even buyers think the price won't rise more and they tend to close profits.

So we are dealing also with strong profit taking areas.

Many times the sell-off begins also earlier in these situations when many want to take profits
even earlier before the price will reach the resistance zone .

At the end of the day, a strong reason will be needed for the price to exceed $90.

Thanks and Good Luck!

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