GE - an eighth month lower

General Electric (GE) settled lower for a SEVENTH consecutive day, -1.2% at $20.16, which made for a net monthly decline of -16.6%. The stock has declined for EIGHT consecutive months, and 9 of the past 10. The Oct' close <$22.00 has opened the door to the $13s in 2018.


GE monthly

GE daily

Summary

Since the break <$27.00 in May, I have been touting the $22s. This month saw major support of $22.00 hit, and almost immediately failed to hold. Next soft psy' level support of $20.00 has already come close to being tested, with an Oct'31st intraday low of $20.05.

By definition, the Oct' close under $22.00 now offers the $13s, which is a key price threshold across the last 20 years.

Keep in mind the Nov'13th investor meeting. If the CEO/Chairman Flannery fails to inspire confidence, it will strongly bode that the $13s are indeed coming in 2018.