Prices lack momentum on its northward journey which can be seen in RSI that indicates a negative divergence in the trend. Prices anyway are hovering around its upper band of channel which itself is a resistance zone where a bearish candlestick pattern called 'Dark Cloud Cover' can be observed. Thus, current levels ...
The stock is trading at the confluence of previous top and upper band of rising channel. Moreover, RSI is indicating a negative divergence which indicates one should move out of the stock immediately and also go short for the target of 67 with stop loss above 69.10 levels
Bulls seems to have entered GE at channel support, RSI on the other hand adds confidence by indicating a bullish divergence. Thus, current levels can be seen as an buying opportunity for the target of 30 with stop loss below 28.65.
Confluence of down sloping median line and up sloping lower median line of pitchfork suggests a good support point.
One can take a preemptive call to buy the stock with stop loss of 2280 for the target of 2630.
Prices hovers around stiff resistance of 95.15 which is confluence of up-sloping trend line marked with red dots and upper range of channel line. Unlike prices, RSI has forms lower highs indicating negative divergence. Thus, prices may correct till the levels of 91 in short term.
Prices have historically consolidated with upward bias. Immediate resistance of 52.30 was beautifully breached with subsequent buying. Thus, it looks like kissing the upper band of its broad consolidation.