Nov. 13 at 12:54 AM
$GE Trade Plan:
Market Context: The last close for
$GE is
$311.51, situated near the 60D high of
$316.67, indicating potential resistance. The RSI at 64.88 suggests the stock is approaching overbought territory, which could lead to a pullback.
Directional Bias: The bullish sentiment is supported by the price being above both the 30-day MA of
$303.88 and the 50-day MA of
$298.28. However, the proximity to the 60D high and the elevated RSI indicates caution.
Suggested Entry: Consider entering a long position on a pullback to the 30-day MA around
$303.88.
Stop: Set a stop loss at
$296.00, below the 50-day MA, to mitigate risk.
Targets: First target at
$316.00, just below the 60D high, and a second target at
$320.00, should momentum continue.
This plan leverages the current bullish trend while managing risk effectively.
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