Has GE Vernova Peaked?GE Vernova appreciated more than 400 percent since getting spun off in April 2024. Now some traders may see a peak in the maker of power-generation equipment such as turbines and windmills.
The first pattern on today’s chart is $664.55, the record closing high from August 6. GEV peaked at the same level on October 15, resulting in a potential double-top.
Second, MACD is falling and the 8-day exponential moving average (EMA) is below the 21-day EMA. That may suggest its short-term trend is turning bearish.
Third, prices are under the falling 50-day simple moving average. That may suggest its intermediate-term trend has turned bearish.
Finally, you have the September 3 low of $565.43. GEV probed that level after the last earnings report. It stayed above it for the next several sessions, but yesterday it closed below it. Is support breaking?
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