GE tempting as Monthly and Weekly indicators identify oversold
I need some help from wave analyzers. I find the patterns quite hard to identify as impulsive vs corrective. It mostly feels corrective.
1) If these waves are corrective, it tells me there is one more wave up to complete GEs rally above 33. What's interesting here is GE is at its 0.618 fibo point in indecision and all the technical indicators identify a monthly oversold signal.
2) If these waves are looked at as a motive, it tells me a leading diagonal formation was complete last year and we are in the correction that will be deep and will continue to move GE down to $15.
I'd Appreciate WAVE analysis view points/links to review.
1) If these waves are corrective, it tells me there is one more wave up to complete GEs rally above 33. What's interesting here is GE is at its 0.618 fibo point in indecision and all the technical indicators identify a monthly oversold signal.
2) If these waves are looked at as a motive, it tells me a leading diagonal formation was complete last year and we are in the correction that will be deep and will continue to move GE down to $15.
I'd Appreciate WAVE analysis view points/links to review.