$GE #GeneralElectric #USA #NYSE #Stocks #Market #Trading
General Electric
Ticker: NYSE:GE
Price: $10.77
General Electric News
It’s going to take an awful lot of work for the GE stock bulls to reclaim the 2000 peak of $57. It could take years to get back to that point, so that’s probably not a realistic price target for 2021.
Instead, the bulls can set their sights on the 2020 high of $13.26. That’s at least within the realm of possibility, as GE finished the year at $10.80.
But, while we’re looking back at the year, we should also observe that the bulls made excellent progress during the third quarter of this year. Bear in mind that, at the beginning of October, GE stock was trading at $6 and change.
Now, what about the stock’s valuation? Currently, General Electric has a trailing 12-month price-to-earnings ratio of 27.69. That’s not a major bargain, but it’s not massively overpriced either.
Finally, though, I should note that GE only offers a forward annual dividend yield of 0.37%. Hopefully, it will increase that number at some point so that income-focused investors can generate more yield.
While traders on financial message boards are busy debating about the future prospects of FuelCell Energy and other companies, I fear that they’re sleeping on a low-key renewable-energy giant.
For instance, on the GE Renewable Energy segment’s website, I actually learned a new term: “green electrons.” Evidently, General Electric is delivering them to the world’s biggest economies.
So, what’s beyond dispute is that General Electric has a vast presence in the global clean-energy revolution. The company cites installing 400 gigawatts of renewable energy across the globe, including 40,000 wind turbines and 25% of the world’s hydropower installations. Plus, GE notes that “90% of utilities [are] equipped with our grid solutions.”
Now, want to talk about staying on the cutting edge? Get this: the company is also reportedly planning to help develop wind turbines made of “3D-printed concrete.”
Why would General Electric do that? One GE Renewable Energy representative explains:
“3D concrete printing has advanced significantly over the last five years […] We are committed to take full advantage of this technology both from the design flexibility it allows as well as for the logistic simplification it enables on such massive components.”
Bottom Line
So, it’s okay to firm up your green-energy holdings with some of the newer companies on the block right now. Just make sure you’re not counting any older names out of the running for no good reason.
In my opinion, GE is one of these promising picks. It’s an older company that’s still ready and able to join the movement. In other words, GE stock is as legitimate a clean-energy stock as any rival on the market.
Business Summary
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; 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.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 11.49.
The projected lower bound is: 10.17.
The projected closing price is: 10.83.
Candlesticks
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.
A piercing line occurred (which indicates that prices moved down on the previous bar, opened even lower, but then closed significantly higher). This implies strength as the momentum appears to be shifting from the bears to the bulls. Note that the higher the close of the white candle (relative to the black candle), the more bullish the Piercing Line pattern.
Momentum Indicators
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 53.4352. This is not an overbought or oversold reading. The last signal was a sell 15 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 56.72. 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 12 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 14 period(s) ago.
Rex Takasugi – TD Profile
GENERAL ELEC CO closed up 0.300 at 10.770. Volume was 14% below average (neutral) and Bollinger Bands were 46% narrower than normal.
Open High Low Close Volume 10.420 10.880 10.420 10.770 15,710,951
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 10.68 9.75 7.46 Volatility: 34 45 70 Volume: 12,657,167 18,166,018 18,037,966
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 44.3% above its 200-period moving average and is in an downward 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 bearish on GE.N and have had this outlook for the last 5 periods.
