We saw that this was going to happen. Earlier in the week, we noted that price action suggested we can't rely on a common support for GE around 27, which held as support 3 times since 2016. During the 6/28 session, price slid and broke below this critical support and thus opening up more bearish outlook.General Electric (GE) Daily Chart(click to enlarge)Bearish Signals:- Just to recap, we noted that price retreating from around 29.50 was a major clue that bears were in charge. Also, the RSI holding under 60 after already pushing below 30 reflected maintenance of bearish momentum.- Now the break is not clear, but the momentum and price action suggests we should expect extension lower, at least until the RSI dips below 30 again.- In case price does pull up, we should anticipate resistance around 28-28.25.Downside:- As noted in the previous update, GE has downside risk towards 24.75-25 in the coming months. - Because the very long-term trend has been bullish for GE, I would limit the bearish outlook to here, with 24 as a stretch. 24 is around a common support in 2014/2015.