I not only am giving up on GE but I am taking a short position.
For reasons I cannot imagine, this stock has developed a massive amount of terrible signals.
I’m only looking to pick up a little on the short side to cover my losses on the long but if this stock breaches the 200 dma of $34.75 with volume, then look out below.
I think this is a short-term correction on a terribly underpriced stock but it is looking to fill the gap that occured on option expiration day a couple of weeks ago and doesn’t seem like it’s going to take no for an answer.
