BY LICIA LESLIE
October 27, 2023
Hi Traders,
Since July General Electric (Ticker: GE) has been in a ten dollar trading range:
Easy trade, right?
Buy it at $107 and sell it at $117.
We all know it isn’t that easy.
That yellow line is the 50 day moving average.
Since January GE has managed to bounce off that support level.
That is until late last month.
Now the stock is struggling to stay above it.
A close below $104 could send GE down to $90.
I believe only a close above $117 will bring in the rally.
Trade Accordingly,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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