By Mill Chart
Last update: Sep 8, 2023
A possible breakout setup was detected on GENERAL ELECTRIC CO (NYSE:GE) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:GE.
ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.
We assign a technical rating of 7 out of 10 to GE. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Check the latest full technical report of GE for a complete technical analysis.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:GE this score is currently 8:
GE has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 111.78, a Stop Loss order could be placed below this zone.
One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.
Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.
Our Breakout screener lists more breakout setups and is updated daily.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
GENERAL ELECTRIC CO
NYSE:GE (12/7/2023, 7:04:00 PM)Premarket: 119.17 -0.31 (-0.26%)
These undervalued stocks offer savvy investors unique growth prospects in a rebounding market and point to robust upside ahead.
General Electric's (GE) business unit, GE Vernova, secures a deal from O2 Power Private Limited to deliver and install 36 units of 2.7-132 onshore wind turbines for wind power projects in India.
This article discusses the performance of industrial stocks in the 2023 trading year, highlighting their outperformance compared to the S&amp;amp;P 500.
Global Advanced Metering Infrastructure Market Breakdown by Device (Smart Electric Meters, Smart Water Meters, Smart Gas Meters) by Solution (Meter Data Analytics, Meter Data Management, Others) by Service (System Integration, Meter Deployment, Program Management and Consulting) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Stay up-to-date with Railway System Market research offered by AMA Research. Check how key trends and emerging drivers are shaping this industry growth.
It's been a difficult year for the industrial sector, but some companies have found ways to outperform simply by concentrating on execution.
General Electric's (GE) unit, GE Vernova's Hydro Power business, has been selected by Tacoma Power to upgrade two 27 MW/33 MVA turbine and generator units at the Cushman II hydropower plant.
Rolls-Royce vowed to deliver up to 2.8 billion pounds ($3.53 billion) of operating profit in the medium term by increasing the margin on its civil aerospace business to 15-17% from 2.5% last year, putting it closer to its rivals. Chief Executive Tufan Erginbilgic's masterplan, which has been almost a year in the making, will see a major step change in margins in its business that powers nearly half of the long-haul civil market by around 2027. Erginbilgic, who took over in January, is the latest CEO to try to tackle the Rolls-Royce's inefficiencies.
Explore the top clean coal stocks revolutionizing energy with sustainable solutions on the back of stellar market growth.