Sunday, March 17, 2013

GE price targets

I have been tracking [here] what may be a top in GE. I don't know if it is long term or interim but the opportunity to take profits in GE appears ripe. A 5% correction from the top of 23.90 should get us to 22.70.

22.65 should close the two open gaps so there is a good chance we may see at least that if one is bearish on GE. In the chart below, the two gaps are marked in red with some fib extensions marking the targets.

The targets in blue are what I like immediately with a final target near 22.60. If this turns out to be a 5 waver down, then I would infer that GE has a lot more to go down long term. If it is a three waver, most likely the lower gap would not get filled and GE would continue to rise after the stochastic touches the bottom and curls up.

No comments:

Post a Comment