We’ve been day trading GE within the trading room with numerous charts & price targets posted on the 5 – 60 minute charts, including the recent series of 5-minute below charts posted earlier today. While GE has the potential to morph into a swing trade, I’d prefer to let the dust settle & the charts firm up a bit before adding it as an official trade idea. With that being said, the 30-minute chart at the bottom of this page outlines my preferred scenario at this time: A bounce to the 18.75 level, followed by another thrust down to a marginal new low while putting in bullish divergences on the 30-minute charts, followed by a rally to the 19.80 area Keep in mind there are a lot of moving parts to that scenario so just one of many possible paths the stock might take over the next few weeks.

Should this scenario start to play out with GE putting in a divergent low on the intraday charts, especially if also confirm via some type of reversal candlestick or chart pattern, GE will likely be added as an official trade setup with specific entry points & price targets.

GE 30-min Nov 15th

GE 30-min Nov 15th