GE forming a bullish channel
Updated
GE tends to follow the market but it has some things going for it.
- Freed up $20 billion recently in a sale of its biopharma sector.
- It is at a pretty hard support. It hit these levels in 08 before running up and before that 1992 was the last time it was this low.
- GE is too diverse to crash further and they seem to have the right ideas to increase free cash flow.
- GE is manufacturing ventilators to help combat this awful virus.
- Open interest for many strike dates is very call:put heavy. There is very little interest in OTM puts.
- GE was hovering around $12 before this crash.
Thanks for reading.
- Freed up $20 billion recently in a sale of its biopharma sector.
- It is at a pretty hard support. It hit these levels in 08 before running up and before that 1992 was the last time it was this low.
- GE is too diverse to crash further and they seem to have the right ideas to increase free cash flow.
- GE is manufacturing ventilators to help combat this awful virus.
- Open interest for many strike dates is very call:put heavy. There is very little interest in OTM puts.
- GE was hovering around $12 before this crash.
Thanks for reading.
Note
RSI was the only concern. GE could consolidate once more before running up.
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