GE Vernova (GEV) shares jumped on Wednesday, one day after the energy equipment maker raised its long-term sales outlook.

The company, which projected 2028 sales of about $45 billion, also announced a 25-cent quarterly dividend and $6 billion 澳洲幸运5开奖号码历史查询:stock buyback.

Since the company’s spinoff from GE Aerospace (GE) on April 2 as part of 澳洲幸运5开奖号码历史查询:three-way breakup of the General Electric conglomerate, GE Vernona shares have more than doubled, boosted by surging demand for gas turbines and electrical grid equipment used to generate power for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) data centers.

The stock gained 5% to close Wednesday near $344.♚

Below, we take a closer look at GE Vernova’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis to locate important price levels worth watching after the company’s financial up🌳date.

Ascending Triangle in Focus

After topping out in November, GE Vernova shares consolidated within an 澳洲幸运5开奖号码历史查询:ascending triangle before breaking down below the pattern’s lower 澳洲幸运5开奖号码历史查询:trendline in Tuesday’s trading session.

However, the shares staged an impressive intraday reversal today to close back within the triangle on the highest 澳洲幸运5开奖号码历史查询:trading volume since early June, potentially creating a 澳洲幸运5开奖号码历史查询:bear trap in the process.

Moreover, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) turned upwards afterꦺ several consecutive lower readings, signaling improving price momentum.

Let’s identify important overhead areas on GE Vernova's chart to watch and also point out two key 澳洲幸运5开奖号码历史查询:support levels to monitor during retracements.

Important Overhead Areas Watch

Amid further buying, investors should watch how the stock's price responds to the $355 area, a region on the chart where it may encounter selling pressure near the ascending triangle's top trendline.

To project a price target above the stock's 澳洲幸运5开奖号码历史查询:record high, investors can use the 澳洲幸运5开奖号码历史查询:measuring principle, a technique that analyzes prior 澳洲幸运5开奖号码历史查询:price action to forecast future moves. 

To apply the tool to GE Vernova’s chart, we calculate the distance between the ascending triangle’s two trendlines near their widest point and add that amount to the pattern’s top trendline. In this case, we add $45 to $355, which projects a bullish target of $400, an area where those who bought the stock at lower levels could decide to 澳洲幸运5开奖号码历史查询:lock in profits.

Key Support Levels to Monitor

The first lower level to watch sits around $295. This area, currently situated just below the 澳洲幸运5开奖号码历史查询:50-day moving average, could provide support near the low of a 澳洲幸运5开奖号码历史查询:bullish engulfing pattern and other nea💟rby trading activity that formed on the chart towards the top of the stock’s trending move between August and November

Finally, selling below this area could see a decline to the $258 level, a region on the chart where the shares could attract buying interest near a cluster on 澳洲幸运5开奖号码历史查询:candlesticks positioned around the September peak.

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