All of the major stock indices were down Thursday afternoon, but General Electric (GE) was bucking the downdraft with a modest gain. The stock opened weak, but rallied above its prior high in the afternoon. Should current level holds, the stock would form a
bullish engulfing near support.
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Click this chart for details
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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