Wednesday, 5 November 2014

Wall street stock of the day : GENERAL ELECTRIC CO

US market stock pick of the day
Stock pick of the day


Recommendation   :             Buy above $26.00
Target                      :            $28.50


STOCK SUMMARY:-
General Electric Co is overall in consolidate trend and is sustaining at lower levels on chart. Traders  can buy the stock above the level of $26.00 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $28.50.

CHART FORMATION
Stock is in bullish trend for near term and price is sustaining below resistance trend line with good consolidation on daily intraday chart. Near term breach of resistance level of $26.00 is expected, which would trigger further bullish sentiment in the stock to test the levels of $28.50.

Click to enlarge


INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.