GE General Electric Daily Chart Potential Descending Triangle

GE daily chart shows a descending triangle in progress (blue lines). A failure would be represented by price losing the 19 base line. Note how price can move sideways thru the triangle for another month or two. The January gap was filled in March and the chart overall is stingy with gaps. Two exist above; 19.6 and 21.2. If price comes down to test the 18 area like the weekly chart would be agreeable with, then the 17.7 gap fill would be in play as well.

The recent bounce from the green falling wedge occurred with stochastics and money flow positive divergence but there is no enthusiasm in the move up. This chart is weak. 20 MA is under the 50 MA which is bearish. Price is under both MA's, bearish. Price projection is sdieways to sideways down moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.