CLICK ON CHART TO ENLARGE
General Electric has a good week last week, up nearly 15%, following some key announcements.
In the big picture last weeks rally took GE up to its 61% Fibonacci resistance level, based upon the 2007 highs and 2009 lows. At the same time it is meeting a resistance line based upon highs in 2000 & 2007.
A break of dual resistance could bring in buyers to this long-term lagging stocks.
Bottom line at this time, resistance is resistance until broken.
–
