How To Trade General Electric [GE]
I post periodic updates to General Electric [GE] as I see things worthy of note and update this page. Feel free to bookmark it. =================
As of close 7 October 2019GE Monthly
General Electric announced today that "it would freeze pensions for about 20,000 salaried U.S. employees and take other related moves to help the ailing conglomerate cut debt and reduce its retirement fund deficit by up to $8 billion."
While the stock managed a small bounce on the news, it looks like it's ready to fall apart yet again. As the chart notes, unless and until price breaches the long term midpoint to the upside, don't even consider buying the stock.
The weekly chart shows much the same. The only difference is that resistance is clearly closer.
This daily triangle pattern suggests price is a short time away from yet another collapse.
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As of Friday 10 January 2020
Still trying to own GE? Don't...
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As of 18 April 2020
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