GE is on Higher Highs on the 1W chart for the first time since August 2016. That was the last peak before a strong 2 year bear cycle hit the company. As you see on the chart General Electric's trend is a parabolic Channel starting with the All Time Highs in 2000. This long term curve has entered its asymptotic phase and may initiate the recovery back to the ATH.
At this stage however we choose to focus on the next Bull Cycle which based on the following parameters is about to start:
* As mentioned Higher Highs on 1W. * RSI on a Channel Up. * Long term support at 5.50 holding.
A Golden Cross will simply confirm the new Bull Cycle. We are still in the early stages, GE is an excellent long term investment for your portfolio.
I've been tracking GE for the past 2 years and I couldn't agree more with this chart. I believe we are in line for a major breakout to the upside. Great Work!
InvestingScope
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@andrewgm824, Thank you. Seems like the break out is already underway.
Gcabr
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this seems like a really high target zone, what is the reasoning behind your analysis for that zone?
InvestingScope
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@Gcabr, The last parabolic high was made on that zone.