General Electric Co., an American diversified corporation, is growing, trading at 155.00.

On the daily chart, the price is moving within a correction trend and ended attempts to work out the March price gap of 175.00–140.00.

On the four-hour chart, the quotes left the 170.00–160.00 channel, having overcome the support line of 162.50, and continued to decline to the intermediate correction level of 50.0% Fibonacci 142.74.

Technical indicators have given a poor sell signal: fast EMA on the Alligator indicator have crossed the signal line downwards, preparing to start expanding the range, and the AO histogram is forming downwards bars near the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 151.51, with the target at 142.74. Stop loss is 154.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 162.56, with the target at 170.79. Stop loss is 160.00.