Ever since GE hit the all time high of around 60 USD back in Sept 2000 and got sold off subsequently, not able to stage a comeback of any sort..
Fundamentally: GE has ventured into many non-profitable business which is reflected in the stock price
the stock price has been in a SOLID downtrend channel line
If this channel holds true until its next bottom which is...
Notice how well GE acts around previous earnings release dates and you can see that GE has lifted right back into two previous "key levels".
Sell short here looking for 25.5, just 3% lower over the next 1-2 weeks.
Tim 12:00PM EST 26.33 -0.04 last
***Key Hidden Levels is available in the Marketplace Add-Ons in the Indicators section. Monthly & Annual...
So I'm going to cut my loss on this one.
Disappointing fundamentals and some negative technical signs.
Will cut my losses while they are minimal and wait for some more positive signs!
Today vey interesting day for GE starts from December 2011 because if you take a look at weekly shedule you will see that price didn't goes down 50 EMA it was like a good support, you see last tree days it was testing to goes down but no, so today I hope will be the same situation and after we will get two days of good trading UP. My first target 26,10 and second...
Entered A LONG position last week
From a technical standpoint I entered as price rebounded from the point at the bottom of the range and at our trend-line.
-Entered after a strong Bullish candlestick
- RSI is at 53 so we still have the potential for plenty of upward movement.
- 100 period MA came close to the 200 and then has now started to move back up...
Genreral Electric resolved Head&Shoulders pattern to downside and closed below the neckline and 50 EMA. That tell us about relative weakness vs broad market. In case of down scenario of SPY (check my comments on this idea in the link below), this company from Industrial Industry (etf XLI showing relative weakness probably because of tension in Iraq and higher oil...
GE has a rising wedge pattern. It is a little different than perfect, but worthy of mention.
GE failed at its resistance level just under $27 from where it reported weaker earnings in the previous quarter. GE is now testing key support for the 3rd time since reporting earnings on April 17th, so it looks like $25.24, then $24.24 are the next targets.
Previous...
Here is the power of TradingView -
Fundamentals show falling revenues and falling margins.
Valuation levels are near extreme levels of 2 x's sales. See Price/Sales Per Share Window at bottom.
Without ultra-low interest rates by the Fed, I doubt GE would be close to current valuation levels.
Sell call options against GE if you are forced to hold GE. If you...
This chart is a comparison on GE and the SPY, and how sometimes GE tends to Sell off before the rest of the equities. Usually SPY would grind sideways for a few days, while GE has been selling off to the downside. I still think SPY in going to grind for the next few days before It starts another leg down.
I LIKE THE COMPANY BUT DEFINITELY SOME DOWN SIDE
RISK IN THE SHORT TERM. W% MAY BE TOPPED OUT. PROFIT TAKING WILL HELP PUSH THIS LOWER.
A PULL BACK TO THE 9 DAY $26.10 BEFORE GOING TO $25.50.
SUPPORT 1 IS AT $25.09.
The chart may seem to be "out of the woods" here and ready to rally, but it basically only cleared the "aggressive sellers" that sold GE down hard after the last earnings report. It also is running into the last earnings report (supply). It appears to me that $26.50-$27.00 is massive resistance and a low-risk zone to sell short against because this is the area...
