If You’re Shorting This One, I’ll Be Buying From You When I Get My Trigger
Remember that
Schoolhouse Rock Song… “Electricity”? For some reason I can’t shake that crazy
song out of my head as I analyze this stock.
Anyway, General
Electric (GE) is setting up for a possible long swing trade on the daily chart
below:
1) Fibonacci price support
23.91-24.27.
2) Fibonacci time cycles
from December 31-January 4 (+/- 1day). This would suggest a reversal to the
upside during this time frame.
3) Pattern: Bullish Gartley
which completed today around 24.25.
4) Trend since October
10: Up with higher highs and higher lows
With pattern,
price support, time cycles, and trend all lining up, I am most definitely looking
for a trigger to take me into a long trade. My stop would be just below the
support zone if triggered in.
Happy New Year!
Â
Â
Â