General Electric Company (NYSE:GE) Stuck At 52-Week Low

General Electric Company (NYSE:GE) Stuck At 52-Week Low

General Electric Company (NYSE:GE) Stuck At 52-Week Low

  • Shares are stuck at a 52-week low.
  • This is bad news for CEO Jeff Immelt and his job security.
  • Righting this massive ship will require a new CEO.
  • The calls for a firing of General Electric (NYSE:GE) CEO Jeff Immelt will grow louder by 2018. Activist investor Trian Partners owns a hefty stake and has for a couple years and shares have been virtually flat since then.

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 stalling.

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 29.05.

The projected upper bound is: 28.66.

The projected lower bound is: 27.23.

The projected closing price is: 27.95.

GENERAL ELEC CO closed up 0.100 at 27.980. Volume was 41% above average (neutral) and Bollinger Bands were 35% wider than normal.

Open       High        Low        Close        Volume
27.900    28.070    27.810    27.980    43,509,472

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

Moving Averages: 10-period        50-period        200-period
Close:                       27.75                28.98               29.99
Volatility:                15                      16                     16
Volume:                   36,038,444    32,850,398    31,747,194

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 6.7% 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 volume flowing into and out of GE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GE and have had this outlook for the last 27 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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 86.4197. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 44.61. 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 buy 10 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 49. This is not a topping or bottoming area. The last signal was a buy 3 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 buy 1 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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