BullBear Trading: Stock and Financial Market Technical Analysis

General Electric Bear Flag Possibly The Clearest Drop Signal Ever $GE

It is rare you get such clarity on a stock chart. Usually the trading action gives you general technical analysis pattern setups but nothing crystal clear. That is not the case with General Electric Company (NYSE:GE). The bearish nature of this pattern is overwhelming and investors should be shorting heavily for a move down to $29.25 in the coming weeks.

 

Notice on the stock chart how the stock dropped sharply in mid-July. Since that drop there has been no recovery at all. No bounce higher even though the stock market has made new all-time highs.The divergence in the trading of General Electric versus the stock market is a very negative signal, but the bear flag is so perfect it belongs in a book.

 

All factors taken into account have General Electric ($GE) setting up for a sharp drop in stock price to $29.25. This is picture perfect and that means a gift from the stock gods. Enjoy the short or puts.

By Pro-Trader

Annabelle Trader

 

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