GE Archives - FaithMightFX

February 20, 2019February 24, 2020

General Electric Is Currently Overbought

Since the beginning of the year, $GE bulls have been actively trading with over 250points. 2018 ended on a poor note for $GE shares when price fell about 500points before a range in price began. However, 2019 began with the $GE bulls in charge of the market with over 150points gained before the end of January. On the 1st of February 2019, they was a gap upwards which made the share price of $GE to move higher about 100points more.

Price is already overbought using the RSI thereby depicting a reversal is about to begin. Ichimoku is still showing a bullish direction alongside the price of $GE still on the upper region of the Bollinger bands. As it is expected that the bears get into the market for a short while, price of $GE could begin a bullish movement after a dip might reach 8.50.

November 27, 2018February 24, 2020

General Electric Shares Might Begin A Bullish Trend

In 2018, General Electric has suffered a setback in its share price. The highest point $GE reached this year was at 19.27 in the first two weeks in January. Since then, the bears have secured about 1200points in the year. We previously analysed a fall in share price of $GE. It has since found a new support. The fall between October and November alone was at an average of 25.69% of the total fall in the year.

Taking a good look at the $GE daily chart, there is a breakout of price from the trendlines as price consolidates. RSI shows an oversold position. Ichimoku is yet to show a reversal from the bearish trend. As the year comes to an end, the bulls might want to resume active roles. In over two decades, $GE has maintained a support around 7.92. If the support level holds again, price might reach 11.23. A breakout of the resistance level above 11.23 might lead to a continuous uptrend.

September 20, 2018May 24, 2019

General Electric Share Price Drops

General Electric recently had a problem with the electrical power plant in Texas. Similar problems might develop with its other units. Four power turbines in the U.S. were shut down because of oxidation. Though, the turbine powers many homes; hopefully this problem will not persist.

During the next earnings call, $GE should guide against re-occurring of power problem affecting many of its plants. If the problem persists, $GE might pay and sacrifice alot before recovering. There is competition already in the power market, with the likes of Mitsubishi and Siemens. Despite two oversold point on RSI, momentum for a fall in share price increases. As a result of the released news, $GE share price fell and rallies in the lower section of the band. Buyers might not be trading soon.

Source: General Electric Confirms Blade Problem At New Texas Power Plant-(Moneycontrol.com)

GE Says Four Of Its Flagship Power Turbines Are Shut Down In The US. –(NASDAQ)