General Electric Wave Analysis – 26 August, 2022
August 26, 2022 @ 18:50 +03:00
• General Electric reversed from resistance level 80.00
• Likely to fall to support level 75.00
General Electric recently reversed down from the round resistance level 80.00 (which has been reversing the price from the start of May), intersecting with the upper Bollinger Band and the resistance trendline from January.
The downward reversal from the resistance level 80.00 created the daily Japanese candlesticks reversal pattern Shooting Star.
Given strong multi-month downtrend, General Electric can be expected to fall further toward the next support level 75.00 (low of the previous correction (2)).