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General Electric Co., Murray Analysis

10/5/2022 2:55 PM

This week, the stock quotes of the American diversified corporation General Electric Co. have reached the lower limit of the Murray trading range at 62.50 ([0/8]), but could not break below it and resumed growth.

Now the price is at a strong support zone of 67.60-68.75 (the middle line of the Bollinger Bands, [2/8]), the breakout of which will allow the instrument to strengthen to the central mark of the trading range 75.00 ([4/8]) or to the upper limit of the central Murray channel 78.12 ([5/8]). The key level for the "bears" is still 62.50 ([0/8]), the decline from which may continue in the reversal zone to 59.38 ([-1/8]) and 56.25 ([-2/8]).

In general, the downward trend in the market remains, as indicated by the downward reversal of the Bollinger Bands, however, the upward Stochastic and the reduction of the MACD histogram in the negative zone do not exclude the development of a correction.


Resistance levels: 68.75, 75.00, 78.12. | Support levels: 62.50, 59.38, 56.25.



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