General Electric tries to garner momentum - Analysis - 29-11-2019

Economies.com
2019-11-29 13:22PM UTC

General Electric's stock declined 0.53% while seeking a bottom to bounce it higher anew, while settling above the support of 11.10, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term, with positive support from the 50-day SMA, while the RSI reached oversold levels. 

 

Therefore we expect the stock to return higher, targeting the next resistance at 12.14, representing the ratio 76.4%. 

 

Expected trend for today: Bullish 

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