General Electric Company (GE/NYSE/S&P500)
20 September 2017, 12:10
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 24.35 |
| Take Profit | 24.60, 24.90, 25.10 |
| Stop Loss | 24.00 |
| Key Levels | 23.70, 24.00, 24.50, 24.70 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 23.90 |
| Take Profit | 23.50, 23.25 |
| Stop Loss | 24.25 |
| Key Levels | 23.70, 24.00, 24.50, 24.70 |
Industry: multisectoral machine building
Current trend
Last week JPMorgan reduced the outlook for General Electric shared by lowering the target price by 21-22% below The Wall Street consensus forecast. The new CEO of General Electric is looking form ways to reduce expenses by means of firing a number of top managers and terminating the employment of new staff members which will make the company's margin in line with competitors. Despite the profitability of General Electric business in energy, oil and gas, and aviation segments, such directions and health care and renewable energy leave much to be desired.
During last week, General Electric stock increased by 1.21%. S&P500 index went up by 0.27% during the same period.
Comparing company's multiplier with its competitors in the industry, we can say that General Electric shares are neutral.
Key levels
Since the beginning of the current week #GE has been actively trading. However, there is no single tendency. The stock of the company is showing an ambiguous technical picture. The emitter has formed key support and resistance levels at 24.00 and 24.50 respectively. Indicators show the strength of the buyers. Still, positions may be opened from key levels.
Support levels: 24.00, 23.70.
Resistance levels: 24.50, 24.70.
Trading tips
If the price consolidates above the resistance level of 24.30, the stock of the company may be dominated by "bullish" tendencies. Potential profits can be locked in by installments at 24.60, 24.90, 25.10. Stop-loss will be located at 24.00.
If the price is consolidated below 24.00, the sale of #GE may be considered. There is a potential of movement to 23.50-23.25. Stop-loss should be placed at 24.25.
Trading tips will be relevant for 3 days.
Current trend
Last week JPMorgan reduced the outlook for General Electric shared by lowering the target price by 21-22% below The Wall Street consensus forecast. The new CEO of General Electric is looking form ways to reduce expenses by means of firing a number of top managers and terminating the employment of new staff members which will make the company's margin in line with competitors. Despite the profitability of General Electric business in energy, oil and gas, and aviation segments, such directions and health care and renewable energy leave much to be desired.
During last week, General Electric stock increased by 1.21%. S&P500 index went up by 0.27% during the same period.
Comparing company's multiplier with its competitors in the industry, we can say that General Electric shares are neutral.
Key levels
Since the beginning of the current week #GE has been actively trading. However, there is no single tendency. The stock of the company is showing an ambiguous technical picture. The emitter has formed key support and resistance levels at 24.00 and 24.50 respectively. Indicators show the strength of the buyers. Still, positions may be opened from key levels.
Support levels: 24.00, 23.70.
Resistance levels: 24.50, 24.70.
Trading tips
If the price consolidates above the resistance level of 24.30, the stock of the company may be dominated by "bullish" tendencies. Potential profits can be locked in by installments at 24.60, 24.90, 25.10. Stop-loss will be located at 24.00.
If the price is consolidated below 24.00, the sale of #GE may be considered. There is a potential of movement to 23.50-23.25. Stop-loss should be placed at 24.25.
Trading tips will be relevant for 3 days.
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