Preface
$GE was founded over 100 years ago, when Thomas Edison’s three electric companies merged. It was one of the original 12 companies to debut on the Dow Jones in 1986.

This has been around for a long-time and it is a very SLOW moving stock-
In fact, it is trading around the same prices it was in 1999…

$GE has been in a “Bull Flag” compression for over two decades.

A Bull Flag is a period of consolidation following a large bullish trend where price consolidates into a short-term downtrend before eventually resuming the initial bullish trend.

The initial bullish trend here began in the 1990’s at roughly $30 per share.
In 2009, this area was retested and saw significant accumulation, visible by the large hammer candle on the stock’s highest volume ever.
The buyers who initiated the 1990 rally, remain bullish the stock.
This confirms the idea of the consolidation being a Bull Flag!

In 2018-2020 $30 was tested and major volumes defended it for the second time! This is where a double bottom came into play- a potential statement pattern establishing a long-term bottom in the stock…

Before we move on, I’d also like to mention that a major reason I am writing about GE today, is the thesis I have behind the entire Industrial sector.
In my recent newsletter, The Dawn of The Bull Market, I ended it buy hypothesizing that broader market expansion, shown best through the $RSP chart, will be the key to a continued stock market rally.
The $XLI has bene compressing in nearly the same manor as the RSP - AND
It also has been seeing substantial dark pool activity just like the RSP
This makes me think that the Industrial Sector could emerge as a major leader in the coming months, which would be big for GE considering it is a staple in the Industrial Sector ETF.

GE

As you can see in the Yearly chart above-
$GE is attempting to break downtrend resistance PLUS a horizontal resistance.
I think this is a valid breakout and I’m going to show you why.

Backtracking to the early 2000’s high on $GE, we can see that accumulation has been taking place here for quite some tine.
Specifically off the $158.97-$171.20 demand currently being broke…

The dotted lines on my chart are imbalances at which I believe $GE becomes fairly valued once price reaches those levels again.
Therefore, anywhere below $268.89, I see $GE as a long-term discount.

Price has congested quite a bit as it attempts to reclaim this area.
With two positive earnings reports, it has seen large volume bullish impulses followed by decreased volume inside candles favoring a healthy breakout.

The Daily interval best displays the recent accumulation that has taken place as this as been sideways for nearly 5 months inside this demand.
It has been tricky deciding WHEN to publish this newsletter…
With the recent failure at resistance and very fast recovery leading to a strong and decisive weekly breakout candle, I think now is the time.

There has been little bull flow on this, I assume because it really is just a SLOW mover. I think smart money is MUCH more focused on simply buying an holding shares for a potential multi-year run.

If $GE falls back and does not hold the $158.97 DP my short-term breakout thesis is likely failing and risk would need managed.

Thank you for taking your time to reading this newsletter.

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