GE Fibonacci Analysis - retesting the 10.50 resistance line

GE has astonished me for the past few months, especially with CEO Lawrence Culp doing away with the Capital sector, Jack Welch's pride and joy, and still managing to not completely crash stock prices. What is most astonishing is that with one little cup and handle, the downward trend seems to have been reversed, despite most Wall Street analysts calling GE to drop all the way to $6.50 by 2020. Amidst the trade wars GE has broken through a lot of resistance lines, and we can see through this Fib retracement that once the 10.50 resistance is broken we are looking at increasing to 10.75. The only issue is getting through that long term strong resistance. Looking at RSI we see that the 50% range has been a support, and we are appraoching 50% right now. Let's hope for one final push through 10.50 and make some profit.

This analysis hinges on hopes of sufficient trading volume to break past the resistance. If GE falls below 10.12 again, this analysis is null and void. Happy trading,

Adam