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.