GE is showing mediocre resistance at the 23% retracement. Eh, nothing special right? Up until you notice the RSI posing as a huge indicator for a long opportunity.
We haven't seen any levels like this in about 9 years, and over the course of 9 years, it showed a growth of approximately 279%. Now what does that mean? For one, it doesn't mean the investment is secure; that isn't until we get a confirmation within these next two weeks. The retracement is being used as a tool, within the retracement we can see a strong line of resistance at $22.86 (50% retracement), and $32.02 (100% retracement).
Essentially the major resistance areas would still mark an approximate 110% profit @ 50%, and 250% profit @ full retracement.
We haven't seen any levels like this in about 9 years, and over the course of 9 years, it showed a growth of approximately 279%. Now what does that mean? For one, it doesn't mean the investment is secure; that isn't until we get a confirmation within these next two weeks. The retracement is being used as a tool, within the retracement we can see a strong line of resistance at $22.86 (50% retracement), and $32.02 (100% retracement).
Essentially the major resistance areas would still mark an approximate 110% profit @ 50%, and 250% profit @ full retracement.
