Hubert Senters here.
Let’s take a look at GE. I did a video I don’t know maybe a few weeks ago or a month ago saying that I went in touch with GE with a ten foot pole, it’s starting to change so. Anytime, we started getting — where it’s getting close to trading or closing above the cloud. It always peaks my interest so I’ve been kind of tracking this bad boy here.
So on GE if you’re a bargain hunter here if you can get GE basically to trade above $15 or right there at $15 you’ll get a close above the cloud. Now, that’s the lowest, it’s been a very long time so a more conservative approach. This would be a long term investment. This wouldn’t be a quick pop trade. So what you do is you’re stop-loss will be down here at the lows. Let’s say $12.50 because it did it $12.74.
You’d buy it at $15 and that would be your risk in your trade. So if you got it up here on $15 or you could buy it now if you like it. Your stop would be down here like $12.74 to $12.15 and then you would be looking for a natural 50 percent retracement.
Now, I don’t know if it’s going to do a retracement all the way from back here if we go to a weekly chart and we go searching for a high and we go okay, that’s the most recent high. There’s a most recent low.
I mean potentially it could go all the way to $22.63. I don’t think it’s going to do that. I think I’m more realistic first target for the thing is going to do something like this right here. So I am going to zoom out and remove our fibs and then we’re going to go okay. This one is already taken out so then you can go back to this one or that. And so I would take. So if you just look for the highs, there’s a high, there’s a high, there’s a high so I’m going to circle these. So there’s one.
That one doesn’t make any sense because if we’re going long here we clearly know it’s going to take out that one. We better hope it is. Here’s a high, okay. It’s going to take out that one. So what I would do and here’s one. That one could apply but I would go all the way back here to this one.
So the most intermediate high that we can take. So what we’re going to do is we’re now going to grab our fib tool and we’re going to draw from this high down to this low and go okay.
If it gets above $15 it’s probably going to at least $16.09 to $16.88. And then what we can do is every step of the way that we can go we can draw from there to here to here to here and just work the target as it starts to climb.
Good luck. Hope it helps. I’ll see you on the next video.
Hubert.
