Don't Ignore This Chart!

GE forms rising flag near support

GE is trying to bounce off its February low, but the bounce look feeble so far and the stock shows relative weakness. The stock shows relative weakness because the S&P 500 broke above resistance and GE remains below corresponding resistance. The support zone around 15-15.5 is holding so far, but a break below flag support would argue for a break to new lows.

100617ge click this image for a live chart
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
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