GE - Daily 7-7-19
Upside:
- Ascending triangle forming over the past month
- The bottom of the ascending triangle is closely in-line with the 20-day SMA, providing additional support
- Inverse head and shoulders set-up forming since early February
Downside:
- Stock price has failed to break above $10.71-$10.72 on three separate days, potentially leading to a double-top set-up
- Volume has slowly been trending down
Notable Prices:
- Top of ascending triangle (also potential double top level) is $10.72
- Bottom of triangle and 2-day SMA is $10.35
I am watching to see which way out of this narrow range the stock price breaks and the volume that is associated with it.
- Ascending triangle forming over the past month
- The bottom of the ascending triangle is closely in-line with the 20-day SMA, providing additional support
- Inverse head and shoulders set-up forming since early February
Downside:
- Stock price has failed to break above $10.71-$10.72 on three separate days, potentially leading to a double-top set-up
- Volume has slowly been trending down
Notable Prices:
- Top of ascending triangle (also potential double top level) is $10.72
- Bottom of triangle and 2-day SMA is $10.35
I am watching to see which way out of this narrow range the stock price breaks and the volume that is associated with it.
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