General Electric ends higher - Analysis - 24-03-2017

General Electric's stock (GE) rose in the intraday levels, scoring a profit of 0.3% in the last session, or 0.09 points, after the important support of 29.35 held on, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (from 27.10 to 33.00), amid an influx of negative signals from relative power indicators, coupled with ongoing negative pressure from the SMA for the last 50 days period. 

Therefore we expect the stock to return lower in the coming trading, specially if it pierced the support of 29.35, targeting thereafter the next support of 28.49, which represents the ratio 78.4% of the same retracement levels mentioned earlier.