General Electric : Gap closed = Bullish

 

Here below (2d chart and text), an extract of a short note sent to some contacts early august warning a bottom might be near for GE stock.

 

In the meantime GE stock traded down to exactly meet 1/ the low end of traced strong support zone (in green)  2/ the gap that market left from October 2015 at USD 24,14 (Low made at 24,15USD last thursday  )  ant thereafter strongly bounced off these lows .

GE stocks underperformed SP500by more than 30% YTD  + Heavy insider buying since July + Positive technical pattern : These 3 elements let me think stock might start to overperform SP500 and anyway would represent a defensive play in case of market correction as move down ALREADY took place here.

 

 

August 2d : « 

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