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Non-Tech : General Electric (GE)
GE 307.27+0.7%Nov 7 9:30 AM EST
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To: E_K_S who wrote (2958)11/23/2018 4:18:18 PM
From: Underexposed1 Recommendation

Recommended By
E_K_S

   of 3256
 
well that big spike in volume probably was the sale of BHGE shares from GE to BHGE



Note as well the very small change in the candlestick doji that day.... that confirms that most of those shares were sold at the agreed upon value of $23.00/share.

the sale certainly has not helped Baker Hughes problems with its share price.



The euphoria of that sale of Baker Hughes did not last even on the day the sale was made... that up-tick occurred on Nov 13 when it announced they would do the sale. The share price for GE sales has fallen 10% since the height of the share price on Nov 13.

Look at the current MACD and BBWidth... You may have read about a formation called MACD/BBWidth squeeze where the MACD and BBWidth reverse direction along with a rise of the Slow sto above 20.

Well the BBWidth has dropped well enough but the MACD stays plateaued and the Slow Sto no sign of rising to 20.

What this means that GE has entered a consolidation period... this does not mean a halt to the decline in price. Rather it is wandering around.

AT BEST will move sideways until it encounters the 20 daySMA
AT WORST it will continue its decline but at a slower pace until it encounters the 20 daySMA

Either way it will then wind itself around that 20daySMA until the BBwidth reaches about 5 - 10 units. That will take at least 10 days.... at that point the Bollies will be tight and we shall see which direction the share price will go.

UE
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