General Electric Co., an American diversified corporation, trades within the strengthening correction at 192.00.

On the daily chart, the price is forming an ascending channel with dynamic boundaries of 196.00–168.00.

On the four-hour chart, the quotes are moving towards the resistance line of 196.00 and may consolidate above the year’s high of 193.00 this week. However, if the asset consolidates below the high of 190.00 from September 25, the probability of a decline will increase.

Technical indicators are strengthening the buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range, and the AO histogram is forming correction bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 196.00, with the target at 213.00. Stop loss — 192.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 189.00, with the target at 169.00. Stop loss — 194.00.