1. The price broke below a major weekly (thick green dashed lines)
2. It did that following a on the 61.8 Fib level
3. The secondary trading channel (thin green lines) was recently broken two
4. The price (right now) is below the weekly 50 line and below the Fast line.
All of the above doesn't give $GE much chance to climb higher from current price level.
24$ is a major weekly that comes with the support of the 200 line. This will be the critical zone that bulls and bears will battle over longer term direction.
It could act as support to push $GE for another run higher to test the top of the weekly trading range (near 27$) and the bottom of the weekly channel ( scenario)
And.. in case that it'll break out, it could be the trigger for a longer term wave.
Either way I'm .. it just depends on where the better sell zone will be.
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