Quarterly report may again collapse the quotes of General Electric

25 july 2022 30
Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
1st in the segment "Agricultural commodities"
3rd in the segment "Indices"
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Tomorrow General Electric will present a financial report for the second quarter. The previous report on April 26th caused a dramatic drop in prices by 10%. By the current report day quotes are approaching the high for a month and a half, thus, further increasing the risk of a significant fall.  

 

A “doji star” has formed on the chart, and the Stochastic indicator has reached the Overbought zone and today they can finally form a sell signal.

 

Bulls may still try to reach 70, but after that, a move to recent minimums near the 60 level is more likely.

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
1st in the segment "Agricultural commodities"
3rd in the segment "Indices"
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