GE: General Electric Co.

Last updated May 8, 2019

GE counts best as impulsing higher and correcting lower. In mid-April is did an a,b,c down to the 50% retrace and then started to impulse higher again moving price back above its 200d SMA and holding it. That is a very constructive development. Thus IMHO wave-3 is underway.

From a big picture perspective GE’s monthly MACD gave a buy cross over from deeply overbought. The last two times it did that price doubled each time. Likely history will repeat itself.