Can the Doji on the General Electric Chart Give us a Reversal?

General Electric (GE) has been probing the area below $24 or where I anticipated support in a recent update, when we also said, "Maybe the weak longs have wrung their hands enough or sold out near the lows -- fingers crossed that GE can rebound a bit in the coming days." Looking an updated Japanese candlestick chart GE, below, we may have a glimmer of light for a turnaround.

In this daily Japanese candlestick chart of GE, below, we see two things that suggest a low. There is a lower shadow on the candle pattern from last Friday suggesting a rejection of the lows and today's pattern could be a doji which would be a balance between bulls and bears. With a doji the open and the close of trading are the same or nearly the same so that the real body is closed to just a horizontal line or dash. This chart also shows that momentum has been improving the past two months. The 12-day momentum study lows have been higher and higher as prices have gone lower and lower - a bullish divergence....64 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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