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S&P 500
6,010.03
(
0.24%
)
US TECH 100
20,540.40
(
-0.12%
)
Dow Jones
44,345.48
(
0.81%
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Brent Oil
71.69
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-2.73%
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Bitcoin
84,330.78
(
4.79%
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Post# of 51872
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techcharter

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techcharter

Re: techcharter post# 28364

Wednesday, 09/19/2007 7:29:59 PM

Wednesday, September 19, 2007 7:29:59 PM

Post# of 51872
GE Channel Throwover

GE did break the upper trend channel for the ending diagonal which started in July '06. This should prove to be a false breakout. This is the second day the price has closed above the bollinger bands, and should start to pull back. This rally that started in september started from nearly overbought stochastics, and remains overbought. The MACD has pulled away from the signal to be sustainable. Volume was above average, but relatively weak when compared to 6 other price moves over the past year. The volume isn't convincing enough.

GE is ready for a crash.
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