By Mill Chart
Last update: Sep 21, 2023
Our stock screener has detected a potential breakout setup on GENERAL ELECTRIC CO (NYSE:GE). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:GE.
Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.
We assign a technical rating of 10 out of 10 to GE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GE is showing a nice and steady performance.
Check the latest full technical report of GE for a complete technical analysis.
Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:GE currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.
Besides having an excellent technical rating, GE also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 114.51, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
GENERAL ELECTRIC CO
NYSE:GE (12/8/2023, 7:04:00 PM)After market: 120.54 -0.05 (-0.04%)
Green energy demands are predicted to accelerate. Take part and take a look at these excellent wind stocks to buy.
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.