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Technical analysis shows a piercing the line trading signal. This post includes links to source code show how to capture this signal with TA-LIB

$GE – Short Term Buy Signal – Piercing the Line

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November 16, 2017

Are you ready to jump in front of a freight train?  GE rocked Wall Street with A 50% Dividend cut and major restructuring.  This stock has been in a free fall for the whole year.  Bearish sentiment and trend analysis keep this market in a world of hurt.  However, a “Piercing Line” Japanese Candlestick Buy signal has been triggered on the Daily chart.  Blood is in the street, and GE is in the gutter.  Is it time to Buy this stock?  The long-term outlook is hazy, but short term it is a BUY.

Daily, Weekly, and Monthly charts have GE getting mauled by the Bears.  The recent “Piercing Line” Buy signal has the stock ready for a retracement.  21.20 is the first objective on a bounce that could see the 23.42 Resistance level before there is any turn back to Support.  Expect a fight if the Bulls can lift the market back into this area.  It will most likely get dicey as the Bulls try to regain control of GE’s fate.  Expectations may be a blur at the present time for this market.  The fundamentals are very Bearish because of the Dividend cut.  Millennials could care less…but Boomers might.  The flight to quality, security, and income cash flow have all been tossed out the window.  Only trading above 23.43 confirms confidence and a potential Bullish rally towards the 27.02 level.
Trading under 17.50 is the thing that, on the other hand, should set off more Selling pressure.  Do not fight a failure in this area.  All bets are off as Funds readjust conservative equity investing, and drop GE stock because it is a sinking ship.  Stockholders do not get golden parachutes, and long-term investors have suffered enough from a lackluster stock that no longer pays its owners.  Look out below…New Move Lows.  9.28 is the longer term major Sell off target.

Source Code

The source code to identify this trading signal uses TA-LIB. You can find it at
Access to the source code requires CloudQuant registration.

Theodore Kekstadt, President of Forex Trading Unlocked, Inc.
Theodore Kekstadt is the Founder and President of Forex Trading Unlocked Inc., and a veteran trader of the Futures, Forex, and Equities markets.

Learn more about Mr. Kekstadt

Candlesticks for Traders
High Probable Japanese Candlestick Patterns: For 21st Century Online Traders by Theodore Kekstadt

The thoughts and opinions in this blog are those of the author and do not represent an investment recommendation by CloudQuant or Kershner Trading Group. CloudQuant provides Mr. Kekstadt’s posts solely to demonstrate High Probable Japenese Candlestick Patterns that can be used by crowd researchers in their efforts to develop algorithmic trading strategies.