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Non-Tech : General Electric (GE)
GE 8.290-1.1%1:04 PM EDT

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To: Underexposed who wrote (3068)4/25/2019 12:28:24 PM
From: Underexposed  Read Replies (1) of 3143
 
April update for GE................................

Well the fortunes of the GE rise appear to be over for a while. Here was my conclusion from the last post I made

I don't see a sudden breakout happening in the near future. I see more sideways motion between $9.50 and $10.50 for the next couple of weeks anyway.
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Some mixed messages but bullish enough to hold existing shares but I would be cautious about buying additional or a new position especially when I see increasing resistance points in the P&F Chart.
Well as you will see that conclusion was valid for about 3 weeks following that reading and then a strong decline happened.

P&F Chart



Well you see in the circle the columnSMA's have reversed and now look bear. I have drawn a couple of diagonal supports I could have drawn a couple of horizontal supports but these would have little strength at this time... the only strong support is the lower diagonal one


Trigger Chart



You can see that my prediction of moving sideways back in March held for about 3 weeks and then the bottom fell out to leave most of April in a lower horizontal wandering

I drew a diagonal support that was tested 10 days ago and soon will be tested again.
The Slow Sto is returning to its bear roots. The MACD and BBWidth are neutral now

Sentiment Chart



The top circle shows the decline of the share price... the last rise did not even have the strength to it to the 20daySMA... the past week was only a "rest" from the previous decline...the Force 30 and the RSI 30 are neutral bearish. The DI +/-... is the start of a bear with the red/green lines diverging in a bear setting.


Ichimoku chart



This is a very telling chart. See how in the last month the share price fell into the Green cloud. It fell steadily through the goo until it hit the lower edge where is was supported by this lower edge for a week but today that ends (so far anyway) the green cloud was breached today and if it closes that way we would be below all clouds.... not a goo place!

the lower indicators are bearish.

Conclusion

I see further decline with the breach of that support shown in the P&F. As to how much of a decline.... that is hard to say... it may decline to the second P&F diagonal support or fall to test the lower point of $6.50 eventually which would be a huge support.. The extent of further decline cannot be measured very well.... but decline it will.

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Disclaimer:

I am not a registered broker. I am retired and use Technical Analysis as the main tool in my investment decisions. Accept or reject my comments as you will, but do your own Due Diligence (DD) before making any decisions based on the information I provide.

Underexposed
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