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With it's latest round of earnings due in 2 weeks, GE has broken through back above it's prior support. For a chart that has long been in decline, this rounded bottom offers a lot of positive signs for a powerhouse brand. It should be no surprise, as the new US administration starts to take shape, that some of the renewable investments made by GE over the last few years are set to pay off.
From a more technical standing, the recent retest helped reset the RSI which gives the mid term growth more room to breath. The rising trend is quite sharp, and usually we would expect this to shallow out - but this market is bubbling over right now so tried and true rules need not apply.
With it's latest round of earnings due in 2 weeks, GE has broken through back above it's prior support. For a chart that has long been in decline, this rounded bottom offers a lot of positive signs for a powerhouse brand. It should be no surprise, as the new US administration starts to take shape, that some of the renewable investments made by GE over the last few years are set to pay off.
From a more technical standing, the recent retest helped reset the RSI which gives the mid term growth more room to breath. The rising trend is quite sharp, and usually we would expect this to shallow out - but this market is bubbling over right now so tried and true rules need not apply.
