From price action, I am bearish on GE now. There was a huge surge in buying 2-3 days ago after which two things happened - the volume went down and the price started moving down. This means the buyers who were holding the price up have disappeared and the market is searching for the next lower level that will be attractive to the next batch of buyers. What will that be is anyone's guess but I would look at around 6.25 where the previous buyers jumped in an pumped it up. Loss of that will likely lead to a lower low. Daily MFI is pretty limp right now.
Caveat Emptor and good luck!
Caveat Emptor and good luck!
Note
Anyone heard of low volume dump? I had only heard of low volume pump. Maybe it is early in the day. The volume has to increase as it nears the March low. Overall, still bearish on GE.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.