General Electric GE Daily - Rising wedge and rejected resistance
GE has a rising wedge pattern. It is a little different than perfect, but worthy of mention.
GE failed at its resistance level just under $27 from where it reported weaker earnings in the previous quarter. GE is now testing key support for the 3rd time since reporting earnings on April 17th, so it looks like $25.24, then $24.24 are the next targets.
Previous declines through key earnings support are listed and those three give projections under $25, which is down 5% from here.
Tim 2:05PM EST, Tuesday, May 20, 2014
GE failed at its resistance level just under $27 from where it reported weaker earnings in the previous quarter. GE is now testing key support for the 3rd time since reporting earnings on April 17th, so it looks like $25.24, then $24.24 are the next targets.
Previous declines through key earnings support are listed and those three give projections under $25, which is down 5% from here.
Tim 2:05PM EST, Tuesday, May 20, 2014
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