Technical analysis

General Electric Wave Analysis 2 February 2024

– General Electric broke key resistance level 134.00

– Likely to rise to resistance level 138.90

General Electric under the strong bullish pressure after the price broke above the key resistance level 134.00, which reversed the price at the end of January.

The breakout of the resistance level 134.00 accelerated the active impulse waves v, (v) and 3 of the higher intermediate impulse sequence (5) from October.

Given the clear daily uptrend, General Electric can be expected to rise further to the next strong resistance level 138.90, target price for the completion of the active impulse wave 3.

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