General Electric Company (NYSE:GE) issued a gloomy outlook for 2019
General Electric — Shares of the global industrial company fell 7.9 percent Wednesday, adding to Tuesday’s losses after issuing a gloomy outlook in 2019. CEO Larry Culp forecasts negative net cash outflow from the industrial business this year, citing its struggling power-plant unit. J.P. Morgan analyst Stephen Tusa said in a note Wednesday that his $6 price target looks “generous ” given the latest information.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 10.09.
The projected lower bound is: 8.21.
The projected closing price is: 9.15.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 28 white candles and 20 black candles for a net of 8 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.2671. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 30 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 42.11. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 4 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 -125.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.
Rex Takasugi – TD Profile
GENERAL ELEC CO closed down -0.780 at 9.110. Volume was 55% above average (neutral) and Bollinger Bands were 34% narrower than normal.
Open High Low Close Volume___
9.290 9.630 9.050 9.110 39,415,120
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 10.14 8.97 10.78
Volatility: 77 67 56
Volume: 22,313,718 22,685,650 20,130,256
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.
GENERAL ELEC CO is currently 15.5% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GE.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GE.N and have had this outlook for the last 51 periods.
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