General Electric continues the bearish movement- analysis - 27-05-2016

General electric shares ended lower on Thursday trades by   (-0.07)  point or (0.23-%) from the previous closure as the price rose trading above 29.40 passing a lot of resistances ending by facing the resistance zone between 30.25 and 30.55 represented by 78.6% correction level for the decline from 31.50 to 27.11 to fall again below 29.81 support, to rebound yesterday settling below 30.25 resistance.

The price facing the mentioned resistance area pushed it to fall again, which consider a sign for a new decline that might pass 29.81 and 29.40 supports.

The general direction remains bearishly by the stability of the resistance level 30.55, and its recommended to wait new signals around this level.