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GE is due for a huge bounce as rumors online talk of Warren Buffest possibly helping GE out of this long bear downtrend. CNBC announced yesterday that "General Electric would be an ‘ideal Warren Buffett investment".
From a technical point of view, we are in the 5th wave confirmation of the confirming a bounce is coming. We are also seeing prime buying opportunities shown by the as it is currently overbought and looks to start heading back up to the 30 line.
This might just be one of the nicest bounces a stock has seen for a while. We will have to see what news transpires between Buffet and General Electric but we are optimistic of a bounce in the near future.
Profitable Indicators Used in this Idea:
Auto Support with Resistance Lines - Red and Purple Lines
Enjoy life, enjoy trading!
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