June 5, 2011

General Electric Weekend update

  • GE Week is approaching its trend line.
  • Daily chart shows support at 18.6 level which coincides with the Fib retrace level of 38.2% level shown in weekly chart.
  • So if the above mentioned level is held then stock may move towards the resistance line drawn in last chart.
  • If 18.6 levels is broken then price will move towards its 50 week moving average and the trend lien which may act as support.
  • FORD MOTOR CO TREND LINE BREAK
  • BEARISH ENGULFING OF IWM

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