GE braced to form a Head & Shoulder pattern, which confirms my hypothesis the volume itself.
Volume has a downtrend between the left shoulder and the head which gives more accuracy to form the pattern.
The target price is 9.65$ which is a match between the distance from head to neckline and 38.2% Fibonacci level to the most recent uptrend wave.
MACD on WEEKLY TIMEFRAME shows saturation of buying power which also supports this hypothesis.
Volume has a downtrend between the left shoulder and the head which gives more accuracy to form the pattern.
The target price is 9.65$ which is a match between the distance from head to neckline and 38.2% Fibonacci level to the most recent uptrend wave.
MACD on WEEKLY TIMEFRAME shows saturation of buying power which also supports this hypothesis.