According to weekly graph analysis, GE still in up trend configuration.
- Its stop both on 24.9 S/R level and up trend line.
- Stoch and %R divagrance tell us that mid-term down trend should be ended soon.
S/L= 24.4
T/P1= 26.7
from the following reasons:
1. Mid term uptrend line -broke
2. 512$ support level - broke
3. Negative Sentiment
Target 1 ~470$
Stop ~515$
Risk/Reward ~4
There are 3 technical elements that support a buy signal:
1. Strong support area levels 5.4-5.5
2. stochastic indicator bearish divergence
3. buy level at RSI and STOCH indicators
