The gap is filled. The fifth wave is completed. It is time for correction.
Seems quite a few traders like to trade GE on a short term "tape". Here is somewhat a novel approach using Bollinger bands as a trading model. Basically, we can create trend analysis on boost and decay properties of the stocks mean value as it portrays itself in the Bollinger trading channel. Interesting results. Seemingly accurate buy and sell signals....
#tradingview # RUBY In green are my entry signals we cann see a nice support in the pitchfork that doesn't show any will to break. The 150 MA is very close to the current candle making it a resistance which the stock can break.
Daily Chart Fibonacci Channel Support & Resistance Bounce Zones
Following technical here i/e dmi reduction stochastic downside break and dmi adx fall. Still long, but will reenter after correction.
GE was on the way down, but all indicators are pointing to it taking off. Selling the puts and going for some calls...
Note the stochastic breakover signals. Combining with dmi greatly enhances accuracy. 11/14 Expect correction after this point. Still bullish and trending however.
The company is good, and i think the stock will reach $30 by the end of the year. This is my favourite company to hold, Even tough i will re analyze it next week as i think Beta is very high 1.80 vs 1.20 (industry). I let the comments from yesterday so that you guys can compare. i KNOW THE PRICE DROPPED. BUT SAR CONFIDENCE IS STILL HOLDING AND BANDS ARE GETTING CLOSER.
GE had 20 point rally from 2003 to 2007. Same is happening right now. So it is a significant resistance due to long term channel.
This is called trading with multiple EMA.
Flat run. precipitation of earnings. Falling.
Correlation with DOW is pretty high.. Also think that index will not correct very much. Sector rotation into big caps can drive this market higher.