Technical analysis

General Electric Wave Analysis 23 November, 2020

General Electric Wave Analysis 23 November, 2020

• General Electric broke round resistance level 10.00

• Likely to rise to 10.500

General Electric today broke the round resistance level 10.00 (which stopped the previous minor impulse wave at the end of last week, as can be seen below).

The breakout of the resistance level 10.00 follows the earlier breakout of the key resistance levels 8.50 (monthly high from June) and 9.30 (top of the previous impulse wave 3).

General Electric is likely to rise further toward the next resistance level 10.500 (target price for the completion of the active multi-month upward impulse sequence (C)).

Article Rating