LucNelson2021

1 Week Technical Overview

Long
NYSE:GE   GE Aerospace
Short term side of things, we are bullish on this but we would like to wait for price action confirmation before entering any positions. Right now, RSI is slowly approaching RSI of 70+ and historically any RSI over 75 has to lead to a huge sell-off. Not to mention, our MA has struggled to hold support, although it is an upward direction channel, we want to minimize risk with our entry point. The last point, is we want to wait for the intersection of MACD across our SHORT TERM MA to confirm our entry. As far as exit point, we would wait for validation aka having our price action dip below support (Short Term MA), and for confirmation of our 2nd MACD crossing.
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