GE SHIPPING 301.25
THE TREND REVERSAL ON THE WAY...
Since reaching 300 the couldnt able to make strong foundation above the 300. The rise from the recent low of 171 and at the current price of 300, i feel the Wave 3 is about to terminate. Here what i want to say, from 171 to 240 is the wave 1 and from 240 to 196 is the Wave 2 which corrected 61.8% of the W1, and from 196 to 312 which is the 161.8% rally of W!. W3 will terminate when it penetrate the 278 levels. The next major support is at 258. Here i make a strong call as SELL SELL with the stop loss of 312 and cover the position at 278 and 258...All the leading indicator are favoring the Bear attack. Overall the rally from 171 to 312 to remain on track then it should not go below the 258 level. Or else then it try to retrace the rally from 171 to 312.
THE TREND REVERSAL ON THE WAY...
Since reaching 300 the couldnt able to make strong foundation above the 300. The rise from the recent low of 171 and at the current price of 300, i feel the Wave 3 is about to terminate. Here what i want to say, from 171 to 240 is the wave 1 and from 240 to 196 is the Wave 2 which corrected 61.8% of the W1, and from 196 to 312 which is the 161.8% rally of W!. W3 will terminate when it penetrate the 278 levels. The next major support is at 258. Here i make a strong call as SELL SELL with the stop loss of 312 and cover the position at 278 and 258...All the leading indicator are favoring the Bear attack. Overall the rally from 171 to 312 to remain on track then it should not go below the 258 level. Or else then it try to retrace the rally from 171 to 312.
posted by Naveen Pantera at 9:38 PM
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