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General Electric Wave Analysis – 04 February, 2019

  • General Electric reversed from support area
  • Likely to rise to 35.00

General Electric recently reversed up with the daily Hammer from the support zone located between the long-term support level 33.00 (which stopped the previous sharp downtrend in May of 2019) and the lower daily Bollinger Band.

The upward reversal from this support zone started the active short-term corrective wave ii.

General Electric is likely to rise further toward the next resistance level 35.00 (coinciding with the 50% Fibonacci retracement of the earlier downward impulse wave from December).

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