General Electric Wave Analysis – 5 January, 2023
January 05, 2023 @ 23:04 +03:00
• General Electric broke resistance level 68.75
• Likely to rise to resistance level 74.75
General Electric recently broke above the key resistance level 68.75 (which stopped the previous sharp upward impulse wave 1 at the end of 2022), intersecting with the 50% Fibonacci correction of the downward correction from the end of 2021.
The breakout of the resistance level 68.75 accelerated the active impulse wave 3, which belongs to the weekly upward impulse sequence (3) from last October.
General Electric can be expected to rise further toward the next resistance level 74.75 (top of the wave 2 from the start of 2022 and the forecast price for the completion of the active impulse 3).