In 2018, General Electric has suffered a setback in its share price. The highest point $GE reached this year was at 19.27 in the first two weeks in January. Since then, the bears have secured about 1200points in the year. We previously analysed a fall in share price of $GE. It has since found a new support. The fall between October and November alone was at an average of 25.69% of the total fall in the year.
Taking a good look at the $GE daily chart, there is a breakout of price from the trendlines as price consolidates. RSI shows an oversold position. Ichimoku is yet to show a reversal from the bearish trend. As the year comes to an end, the bulls might want to resume active roles. In over two decades, $GE has maintained a support around 7.92. If the support level holds again, price might reach 11.23. A breakout of the resistance level above 11.23 might lead to a continuous uptrend.