General Electric resumes decline - Analysis - 17-07-2017

General Electric's stock (GE) returned lower in the intraday levels, recording a loss of 0.04% in the last session, or 0.01 points, amid negative pressure from the 50-day SMA, while the stock settles below the important resistance of 27.81, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 19.42 to 33.00), as relative power indicators reached extremely overbought levels. 

Therefore we expect more losses for the stock, targeting the support of 26.21, which represents the ratio 50% of the same retracement levels.