Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
GE has had a good run so far in 2019. I've made enough money in equity on GE that I am ready to move on. I'm going to leave about 20% of my equity in GE but I will be exiting this asset. There are others that I will start following but that doesn't mean I'm done analyzing this. I think there's a correction phase in the works here and we're finding some support well above the 200 hour MA and today above the 50 hour MA.
There's a wedge formation that is nearing the apex and there's likelihood that we'll break up. As you can see, we printed bearish divergence back in early February but that may have already played out when it for support at 9.50ish.
I have no doubt that you will see prices for GE over $11 this year. Indicators are still looking good which is why I'm keeping 20% in to monitor it.
Trade safely friends!
Good stop loss for GE would be around $9.50 otherwise I'll let it ride.
i think its going to drop hard, but will be one of the best buys of our lifetime for a long hold.
bitdoctor
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@InJayWeTrust, I think with most rallies there's a good chance it'll drop. I'm unsure at this point in the game if this will be the best buy of our lifetime. Unfortunately, GE is a company that has been around for longer than most of us, therefore the time to make the lifetime buy was decades ago. You're better off finding promising startups that are focused on the future technology. Don't get me wrong, this will be a good buy but I don't believe it'll give the exponential growth that other companies will likely be able to offer.
OTM.Investments
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@bitdoctor, i think it's a gem and this pullback will make it even more of gem. i have some of my bags set aside for this 1.