General Electric Company (NYSE:GE) HEFFX Highlights

General Electric Company (NYSE:GE) HEFFX Highlights

General Electric Company (NYSE:GE) HEFFX Highlights

  • GE shares to drop 20% as uncertainty about stock greatest in ‘decades,’ JPMorgan says
  • JPMorgan analysts cut the 12-month price target to $22, representing a 20 percent drop from Wednesday close at $27.35.
  • General Electric CEO Jeff Immelt announced last month that he would be stepping down at the end of the year.
  • The S&P 500 is up 8.65 percent year to date, and General Electric lags behind, down by more than 13 percent.
  • GE shares are making new lows.
  • The new, industrial-heavy form of GE isn’t working out quite as well as the company had hoped.
  • And the chart is in terrible shape, meaning that the downtrend is more likely to continue than turn around.
  • General Electric on Monday completed its buyout of Baker Hughes Inc, merging it with its own oil and gas equipment and services operations to create the world’s second-largest oilfield service provider by revenue.
  • The new company, to be called ” Baker Hughes , a GE company,” will begin trading on Wednesday on the New York Stock Exchange under the stock ticker “BHGE.”

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production and water reuse; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 28.02.

The projected upper bound is: 27.32.

The projected lower bound is: 25.33.

The projected closing price is: 26.33.

GENERAL ELEC CO closed up 0.340 at 26.380. Volume was 17% above average (neutral) and Bollinger Bands were 123% wider than normal.

Open         High          Low           Close         Volume
26.030      26.450      25.910      26.380      41,251,604

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period        50-period          200-period
Close:                       26.80               27.93                  29.61
Volatility:                27                      23                       18
Volume:                  38,246,268      39,422,708      33,256,840

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

GENERAL ELEC CO is currently 10.9% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of GE (mildly bearish). Our trend forecasting oscillators are currently bearish on GE and have had this outlook for the last 9 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.5889. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 35.17. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -113.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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