General Electric Daily: 7-7-19

Volatility Watch

GE – Daily 7-7-19 by follow_the_money on TradingView.com

Upside: 
– Ascending triangle forming over the past month 
– The bottom of the ascending triangle is closely in-line with the 20-day SMA , providing additional support 
– Inverse head and shoulders set-up forming since early February 

Downside: 
– Stock price has failed to break above $10.71-$10.72 on three separate days, potentially leading to a double-top set-up 
– Volume has slowly been trending down 

Notable Prices: 
– Top of ascending triangle (also potential double top level) is $10.72 
– Bottom of triangle and 2-day SMA is $10.35 

I am watching to see which way out of this narrow range the stock price breaks and the volume that is associated with it.

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