Monday, 19 March 2012

GE: breaking higher

GE, General Electric just had a good week, climbing 6% on Friday alone.

GE, daily, near term

GE is approaching resistance, and it would be kinda surprising if it can climb much higher than 21 in the coming week. There is good support at the recent low in the 18s

GE, weekly - a battered heavy industrial

GE is lagging the main index pretty badly. Were it equal to where the SP' currently is - 1400s, it should be around 26/28.

Most important of all, a break below 14, would suggest massive problems ahead, for not only GE, but the wider market. GE, is certainly one of the key stocks to watch, and the doomsters bears will need to see this one break to 12 - or lower, if the more 'interesting' targets of sp'1200/1100 are to be attained later this year.