The Chart Report

The best technical analysis being done by the best technicians in the world every day.

  • Daily Chart Report
  • Archives
  • About Us

Chart of the Day – Thursday, August 15th 2019

August 15, 2019 Patrick Dunuwila

Today’s Chart of the Day was shared on Twitter by Mark Newton (@MarkNewtonCMT). It is a weekly candlestick chart of General Electric ($GE). The stock suffered its worst day in over a decade today, falling 11.30% after Madoff whistleblower Harry Markopolos accused the company of accounting fraud. Mark points out that price began to break down from a triangle pattern a full week before the Markopolos report surfaced. This reiterates our belief that news flow follows price and that all relevant information is baked into price. News like this should come as no surprise to chart watchers who have seen this stock in a multi-year downtrend. Technicians tend to ignore the news and instead focus on price action. This may be hard for some to understand, but the idea behind it is simple. An uptrend is an indication that the company is doing something right, while a downtrend tells you that there could be something wrong with the company. Remember, the trend is your friend!

$GE, Chart of the Day, Mark Newton

Sign Up For The Daily Chart Report

Testimonials

If you're not subscribing to the @TheChartReport and getting their nightly recap of some of the great charts shared on social media and blogs, then you're really missing out.

— Andrew Thrasher, CMT (@AndrewThrasher) July 17, 2019

That last tweet was directly from one of my favorite emails each day @TheChartReport Daily Chart Report 📈 Wednesday, August 14th, 2019: https://t.co/5NZjhmgnxR

— Brian Shannon, CMT (@alphatrends) August 15, 2019

Nice work on @TheChartReport guys. Definitely recommend checking it out and signing up for the daily report. Great work as always @Pdunuwila @the_chart_life @AlphaEyeCharts @sstrazza

— Gregory Krupinski (@G_krupins) April 28, 2019

#FF @TheChartReport the best free email I get every day

— J.C. Parets (@allstarcharts) September 6, 2019

Follow @TheChartReport and subscribe to their fail email for great technical analysis. Nice job on the $TSLA piece @Pdunuwila https://t.co/SdNTYsCHNN

— Brian Shannon, CMT (@alphatrends) April 26, 2019

if you’re not signed up for @TheChartReport get your life together bro

— Shane C. Murphy (@murphycharts) August 7, 2019

Love getting my daily market news from @TheChartReport

— Andrew Fieschko (@AFieschko) August 7, 2019

Recent Posts

  • Daily Chart Report 📈 Monday, May 23rd, 2022
  • Chart of the Day – Monday, May 23rd, 2022
  • Daily Chart Report 📈 Friday, May 20th, 2022
  • Chart of the Day – Friday, May 20th, 2022
  • Daily Chart Report 📈 Thursday, May 19th, 2022

Follow @thechartreport

  • Instagram
  • Twitter

© 2022 The Chart Report. All Rights Reserved.

Terms and Conditions