GE VERNOVA (GEV): A Stock to Watch Closely
In the upcoming week, all eyes are on GE VERNOVA (ticker symbol: GEV). We first highlighted this stock in August due to its well-defined consolidation pattern following its IPO. IPO bases can lead to significant upside moves once they break, and GEV did just that, breaking out from the 180s to the 300s. It is now building a well-defined 2-month long consolidation base, ranging between $319 support and $354.50. A move above $354.50 could trigger another large run.
Key Technical Analysis
GE VERNOVA's consolidation base is a crucial setup, with $319 serving as support and $354.50 as the breakout trigger. Successful support at these levels, followed by a strong buyer reaction, could lead to another significant rally.
Critical Levels to Watch
- Downside Support: $20 to $21.6, which has held well so far.
- 50-Day Moving Average: Currently at $24.05, being tested as a key resistance level.
- Key Resistance Levels:
- $24.95 to $25.37, a significant pivot.
- Trend line resistance at $26.5, aligned with previous highs from 2021.
- Major resistance at $30.6.
Any of these levels could act as breakout triggers with tight stop losses just below. The 50-day moving average at $24.05, the trend line at $26.5, and the $30.6 level are particularly crucial for potential upside moves.
Market Outlook
With a well-formed consolidation and bull flag, GE VERNOVA has the potential for a major upside move. If the S&P 500 breaks above the 5985 to 5994 zone, it could set up favorable conditions for further gains in GEV and similar setups.
Conclusion
Keep a close watch on GE VERNOVA (GEV) as it approaches critical technical levels. The stock's well-defined consolidation base and key trigger points make it a prime candidate for significant upward movement.
For more insights and detailed trade alerts, consider joining our private Discord chat. Get personal trade alerts, nightly watch lists, and answers to your trading questions.
Thank you for reading, and best of luck trading in the week ahead. Peace out!
https://youtu.be/EjoTOXE4E0c?si=Wl3yoqThn2PLiz-j
GE VERNOVA (GEV): A Stock to Watch Closely
In the upcoming week, all eyes are on GE VERNOVA (ticker symbol: GEV). We first highlighted this stock in August due to its well-defined consolidation pattern following its IPO. IPO bases can lead to significant upside moves once they break, and GEV did just that, breaking out from the 180s to the 300s. It is now building a well-defined 2-month long consolidation base, ranging between $319 support and $354.50. A move above $354.50 could trigger another large run.
Key Technical Analysis
GE VERNOVA's consolidation base is a crucial setup, with $319 serving as support and $354.50 as the breakout trigger. Successful support at these levels, followed by a strong buyer reaction, could lead to another significant rally.
Critical Levels to Watch
Any of these levels could act as breakout triggers with tight stop losses just below. The 50-day moving average at $24.05, the trend line at $26.5, and the $30.6 level are particularly crucial for potential upside moves.
Market Outlook
With a well-formed consolidation and bull flag, GE VERNOVA has the potential for a major upside move. If the S&P 500 breaks above the 5985 to 5994 zone, it could set up favorable conditions for further gains in GEV and similar setups.
Conclusion
Keep a close watch on GE VERNOVA (GEV) as it approaches critical technical levels. The stock's well-defined consolidation base and key trigger points make it a prime candidate for significant upward movement.
For more insights and detailed trade alerts, consider joining our private Discord chat. Get personal trade alerts, nightly watch lists, and answers to your trading questions.
Thank you for reading, and best of luck trading in the week ahead. Peace out!
https://youtu.be/EjoTOXE4E0c?si=Wl3yoqThn2PLiz-j