I thought about doing a post on a certain grand child (the baby’s baby) of Intuitive Surgical that is up 60% over the last week, but I am afraid to. The minute I post, especially if the post has a hint of wiseguy know-it-all-ness to it, the thing will get reversed and hammered. So instead, we highlight a beaten down conglomerate that was noted in the Trade Log in real time on May 8, thusly…
“5.8.18: Buy rudderless, debt-soaked, beaten down conglomerate GE on in-day pullback and daily chart pattern that could provoke a bounce. At least that’s the plan. ;-).”
Here is the chart of the old war horse. I have no clue if it is going to hold the neckline break or not (they so often don’t because the chart jockeys jump all over them and the algos and HFT make the dorks pay *) but the trade is +5.7% and if the pattern goes to plan and targets correctly, we’re looking at 17 and possibly up to the declining 200 day moving average. There are a couple of gaps up there.
* That is obviously just me speculating.
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