Watch These GE Vernova Price Levels as Stock Jumps After Investor Update | Global News Avenue

General Electric Vernova (GEV) shares rose on Wednesday, a day after the energy equipment maker raised its long-term sales outlook.

The company expects sales of about $45 billion in 2028 and also announced a quarterly profit of 25 cents dividend and US$6 billion stock buyback.

Since the establishment of the company spin off From GE Aerospace (General Electric) on April 2 as three way break up Shares in General Electric Group’s GE Vernona more than doubled as demand surged for gas turbines and grid equipment used to generate electricity. Artificial Intelligence (AI) data center.

The stock rose 5% on Wednesday to close near $344.

Below, we take a closer look at GE Vernova’s chart and apply technical analysis Identify important price levels to watch following a company’s financial update.

Focus on the Ascending Triangle

After peaking in November, GE Vernova stock rallied in a ascending triangle before breaking below the lower limit of the pattern. trend line during Tuesday’s trading session.

However, the stock’s intraday performance was impressive reverse Today’s close is back within the highest point of the triangle trading volume Since the beginning of June, it is possible to create a bear trap During this process.

also, Relative Strength Index (RSI) A turn to the upside after several consecutive moves lower indicates improving price momentum.

Let’s identify the important overhead areas to focus on on GE Vernova’s chart and point out two key support level Monitor during retracements.

Important overhead areas to observe

In the midst of further buying, investors should watch for the stock’s reaction to the $355 area, which could see selling pressure near the top trendline of the ascending triangle on the chart.

Set a price target higher than the stock’s price record highinvestors can use Measurement principlea technique for analyzing a priori price action to predict future trends.

To apply this tool to the GE Vernova chart, we calculate the distance around the widest points of the two trend lines of the ascending triangle and add that distance to the top trend line of the pattern. In this case, we increase $45 to $355, which projects a bullish target of $400, an area where those buying the stock at lower levels can decide Lock in profits.

Key support levels to monitor

The first lower level to watch is around $295. This area is currently located in 50-day moving averagecan provide support close to the lowest point of a bullish engulfing pattern and other trading activity near the top of the stock’s trend movement that formed on the chart between August and November.

Finally, selling below this area could lead to a drop to the $258 level, an area on the chart where the stock is likely to attract buying interest near a nearby cluster. candlestick Located near the September peak.

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As of the date of this writing, the author did not own any of the securities mentioned.