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Strategies & Market Trends : Analysis Class for Beginners
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To: Arthur Tang who wrote (1310)4/24/2001 10:01:28 AM
From: TechTrader42  Read Replies (1) of 1471
 
Another way to put it is you might see a Fibonacci pullbackment (I won't say retracement) to 45 (.375 pullbackment) or to around 44 (.5 pullbackment), based on last move up from 39 to 48.75.

GE could continue to rally, as you suggest. It doesn't look like a sure thing, though. A pullbackment seems likely. (It does continue to have a pricey P/E for a bear market, at 36).

Note how MWBX went down, as I said it would, based on chronoscopy and simple Fib pullbackment.

That's not to say that GE will cooperate. Prediction can be a rather useless endeavor, especially when you add an element of certainty.
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