General Electric Co.: technical analysis for April 17, 2023

General Electric Co. shares, a U.S. diversified corporation, are moving within a correction at 95.00.

On the daily chart, the price is within the ascending channel with dynamic boundaries 98.00-76.00, holding near the resistance line.

On the four-hour time frame, the upward movement is hampered by numerous attempts to consolidate above the channel resistance line at 97.00. After overcoming it, a further move to 101.00 will become quite probable.

Technical indicators indicate a slowdown in the growth of GE shares, signaling an impending reversal: the fast EMAs have begun to approach the signal line, narrowing the range of fluctuations, and the histogram of AO is forming correction bars in the buying zone.