Bullish potential detected for GE

Jun 7

Entry conditions:
(i) retracement back to potential support areas of $321.04 and 318.64 (from the open of 9th February and 12th March, respectively), and
(ii) observation of market reaction at these potential support areas noted above.

Depending on risk tolerance, the stop loss for the trade would be:
(i) below the rising 15 day EMA (currently $313.72), or
(ii) below the rising 100 day moving average (currently $307.13), or
(iii) below the rising yearly VWAP (currently $305.57).

Jun 13

Trade active

UPDATE (week ending 12-Jun): Share price retraced perfectly back to the support levels suggested in the entry conditions noted above, which coincided with the share price testing the 15 day EMA, before successfully rebounding and closing above both short-term moving averages of the 8 and 15 day EMA's at the end of the trading week. Aggressive traders/investors may wish to raise protective stops to beneath the rising 15 day EMA (currently $320.99) in the initial instance.

Jun 19

Note

UPDATE (week ending 19-Jun): Share price gapped up on Monday 15th June and continued to progress well throughout the trading week, providing traders/investors with the opportunity to take a small piece off the table and raise profitable stops to beneath the level of the gap-up on Monday (i.e.: beneath $341.96) or utilise options as a hedging methodology. Congratulations on a terrific trade thus far!

Jun 27

Note

UPDATE (week ending 26-Jun): Share price continued to track along the short-term 8 day EMA throughout the week, providing traders/investors with the opportunity to take a small piece off the table and raise profitable stops to beneath the level of the swing-low on Tuesday (i.e.: beneath $347.78) or utilise options as a hedging methodology.

Jul 4

Note

UPDATE (week ending 03-Jul): Share price continued to track along the short-term 8 day EMA throughout the shortened trading week, with a small dividend payment of $0.47 per share upcoming on Monday. Do note that earnings are upcoming on Thursday 16th July, so decisions would need to be made regarding positions or utilising options as a hedging methodology in the near term.

7 days ago

Trade closed manually

UPDATE (week ending 10-Jul): With earnings coming up around the corner on Thursday 16th July, decisions will need to be made regarding positions or utilising options as a hedging methodology in the near term, as noted in last week's comment. For those who haven't already done so (with respect to options or closing out positions), the option to do so does exist, albeit at lesser of an opportunity compared to last week, but still with decent profit potential (this week's share price closing at $359.27 compared to last week's share price close of $377.52). Regardless, a decent profit compared to entry levels around $320 - congratulations on a terrific trade!