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General Electric Is Currently Overbought


Since the beginning of the year, $GE bulls have been actively trading with over 250points. 2018 ended on a poor note for $GE shares when price fell about 500points before a range in price began. However, 2019 began with the $GE bulls in charge of the market with over 150points gained before the end of January. On the 1st of February 2019, they was a gap upwards which made the share price of $GE to move higher about 100points more.

Price is already overbought using the RSI thereby depicting a reversal is about to begin. Ichimoku is still showing a bullish direction alongside the price of $GE still on the upper region of the Bollinger bands. As it is expected that the bears get into the market for a short while, price of $GE could begin a bullish movement after a dip might reach 8.50.

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