$GEV - Second Sideways Consolidation Following +80% Surge in 3 Months

jfsrevg
12-18 08:11

$GE Vernova Inc.(GEV)$ - Second Sideways Consolidation Following +80% Surge in 3 Months

While the current market favors mega-cap growth tech, with $Consumer Discretionary Select Sector SPDR Fund(XLY)$ and $Technology Select Sector SPDR Fund(XLK)$ as the only 2 of the 11 sectors maintaining relative strength, GEV's resilience amid the sectoral pullback in $Utilities Select Sector SPDR Fund(XLU)$ (which has already lost its 10, 20, and 50-MA) makes it worth a spot on the watchlist.

Currently just 2x ATR% above the 50-MA, with six consecutive higher lows. It’s worth noting that options expiration is this Friday, so any high volume on the day shouldn’t be interpreted as strong relative volume without a corresponding price move.

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    02:08
    Tiger_CashBoostAccount
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