With the U.S. dollar collapsing under its own weight, and breaking key support…….
GE looks to be in trouble, as it has failed to hold onto gains made after the 2008/09 financial crisis and has fallen well below longer-term major support.
However, it has just risen above a major price and Fibonacci retracement resistance level (18.66), as shown on the following Monthly chart. It will need to hold above this level and gain strength to reach its next (price) resistance level around 21.40, and, ultimately, its next Fib level at 26.65, or higher.
Watch for any increases in volumes on such a rally to confirm a potential comeback. Otherwise, it may just be a temporary dead-cat bounce.
Maybe there’s hope after all. Mark your calendars. (more…)
Growing up during the Cold War as I did, my impression of places like Hungary and Czechoslovakia was that they were grey, oppressed, and full of unhappy people glumly plowing their way through life. Now that we live on a more-or-less entirely capitalist planet, it’s interesting to visit former regions of what had been the U.S.S.R. and see what it’s like.
I’ve spent the past few days in Slovakia, a place I’d never been before, nor had ever anticipated visiting. Here are a few off-the-cuff impressions I’ve had from my brief time here: (more…)