GE: Short entry stop @ $13.35
I’m giving GE another try. The up-move today seems running out of steam based on intraday sentiments and my observation with XLF testing $12.09.
Update: The TICK just tanked but the price remained elevated. I’m having doubt about this up-move ending soon.
Short entry stop: $13.35
Exit stop: $13.61, high of the day
Target: $11.2. This is lower than my previous $12.50 target because if we break below now, we would have successfully tested the top of the $11.50 – $12.70 congestion zone (today’s low was $12.85). That’s why I’ve extended my target to the next zone.
Reward / Risk = 2.15 / 0.26 = 8.27 > 5
Update: My entry stop was triggered at 15:42. I’ve shorted 75 shares of GE at $13.35.
Update May 27: GE tested $13.50 at the open then $13.00 in the afternoon. I’ve moved my stop tighter to $13.28 based on hourly chart of last few days. We seem to be range-bound these days, so I’m setting my exit stop closer to book the profit.
Update May 28: I’ve been stopped out at 2:36pm at $13.27. I’ve lost about $3.00 after commission. The market is bouncing like a ball as I’ve suspected. The only stocks in my small watchlist moving in a trend seem to be SLW and TCK (precious metal and commodities).
General Electric (intraday)
General Electric
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