SubscribeJump in General Electric (GE) before it’s too late!
General Electric – GE
I normally like to find stock plays that are under the radar, but every once in a while I stumble across a well known large capitalization play that captures my attention.
General Electric happens to be the right stock at the right time…
In this case, GE’s four-year weekly chart shows two specific periods of price movement. The first period, lasting approximately two years, was marked by a dramatic increase in price from $22 to $38 per share.
Source: Bigcharts
However, the stock needed a chance to rest at this level before making any further strides to the upside. Over the past two years the stock has traded in a tight channel and has essentially pulled back to $32 before finding support and breaking the downtrend in a recent surge back to $36. This breakthrough is significant because this move signals that the consolidation period is finished and that the next leg in the new uptrend is about to begin.
Recommendation: Buy immediately and hold for at least two years. Place a stop loss just below the $34 support level in case the recent move is a fake-out.
Good Investing…
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