General Electric ends cautiously higher - Analysis - 22-09-2017

General Electric's stock (GE) rose in the intraday levels, scoring a profit of 1.77% in the last session, or 0.43 points, amid positive signals from relative power indicators, as the stock attempts to recoup past losses, despite negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, especially if it settled back below 24.58, which represents the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 19.37 to 33.00), targeting the support of 22.59, which represents the ratio 76.4%.