Solid News

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.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, CuraƧao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022