General Electric tackles current resistance - Analysis - 24-11-2020

General Electric's stock (GE) rallied 3.18% in the last session, tackling the resistance of 10.27, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 13.25 to 5.48), with positive pressure from the 50-day SMA, countered by negative signals from the RSI. 

Therefore we expect more gains for the stock, targeting the resistance of 11.43, which represents the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bullish