GE Shipping
CMP 567
Is the correction of wave 4 over ?
Today bounced back from an important support with >2 X average volume.
If yes, then next leg can take it to 1500 and beyond !
But need to very vigilant before becoming confident.
Need confirmations … should first start closing above 572 and then above 20 WEMA and MACD in different time -frames should start moving towards buy…currently all in sell.
Weekly Chart
There was a muti year breakout in this stock after 15 years – that indicates a structural change in the sector.
Monthly Chart
Disclaimer – Have small position.
This post is just a for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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