Current trend

Shares of General Electric Co., an American diversified corporation, resumed growth three months ago as part of a long-term upward trend: the price reversed at 106.25 (Murrey level [1/8]), moved into the positive part of the main Murrey trading range and is currently testing 131.25 (Murrey level [5/8]), after consolidating above which it may reach the area of 137.50 (Murrey level [6/8]) and 143.75 (Murrey level [7/8]). If the key “bearish” central mark of the Murrey trading range 125.00 (Murrey level [4/8], lower line of Bollinger bands) is overcome, which is less likely, the quotes will return to the negative part of the trading range and begin a long decline to the area of 118.75 (Murrey level [5/8]) and 112.50 (Murrey level [2/8]).

Technical indicators reflect the continuation of the upward trend in the market: Bollinger Bands and Stochastic reverse upwards, and the MACD histogram is stable in the positive zone.

Support and resistance

Resistance levels: 131.25, 137.50, 143.75.

Support levels: 125.00, 118.75, 112.50.

Trading tips

Long positions may be opened above 131.25 with the targets at 137.50, 143.75 and stop loss around 127.80. Implementation time: 5–7 days.

Short positions may be opened below 125.00 with the targets at 118.75, 112.50 and stop loss around 129.00.