GE Stock Revisits Breakout Base: What’s Next?I'm currently analyzing GE stock, which is trading at $172.37 pre-market. It's returned to its breakout base and shows an OBV divergence, signaling potential movement.
The overall sector appears strong, suggesting the stock might be gearing up for another rise.
Analysts generally predict a 22% increase. Despite being up nearly 70% this year, it dipped about 8% last month. I'm setting a stop loss at $169.55 and aiming for a 22% gain, though I plan to sell half after a 5-8% increase. The upcoming election could influence its performance. Overall, the technical setup looks promising in a robust sector.
TLDR
📈🎯 22% potential increase
🔙🔄 Back to breakout base
🛑📉 Stop loss set at $169.55
GEC trade ideas
GE Aerospace Options Ahead of EarningsIf you haven`t bought the dip on GE:
Now analyzing the options chain and the chart patterns of GE Aerospace prior to the earnings report this week,
I would consider purchasing the 195usd strike price Calls with
an expiration date of 2024-12-20,
for a premium of approximately $8.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Moment of truth does it breakout of consolidation or notWe could continue to see a sideway pattern for a little more, giving it time to position itself even higher. It is still uptrending higher highs and lower highs and continues to strengthen on many indicators and areas. Another crossover on MACD crossing the signal line suggests a breakout to 200.
GE Aerospace Common Stock (GE) | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
# Trend | Time Frame Conductive | Weekly Time Frame
- General Trend
- Measurement on Session
* Support & Resistance
* Trade Area | Focus & Motion Ahead
# Position & Risk Reward | Daily Time Frame
- Measurement on Session
* Retracement | 0.5 & 0.618
* Extension | 0.786 & 1
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Buy
GE breaking above!! Uptrend to unfold
Looking at the weekly chart which shows the breakout above rounded bottom.
There are multiple trend breakouts we see.
1. Double bottom
2. Downtrend Line breakout
3. Rounded bottom (Neckline is at 153 level which in the past has acted as support and resistance both as shown in the chart with red circles)
After all this we are seeing some kind of consolidation above the neckline (Above 153 price). And that also shows the break of a triangular pattern
So I would like to see the break of the structure and retest the 165 levels. Boosting the confidence towards uptrend.
T1: 200
T2: 254
Technical Patterns of Reinvention: GENYSE:GE reported earnings yesterday and had a minor gap up to the high of the sideways range with some selling for profit toward the end of the day. This company is reinventing. Momentum Runs have developed out of Dark Pool Buy zones for swing trading since the last time it was mentioned.
General Electric due for +20% rally NYSE:GE confirms next leg up
Mentioned in the past few reports for members as one of the quiet performance leaders since bottoming in 2023 and breaking out of a multi-decade consolidation after.
The depth of the consolidation projects a target up to $265 per share, or about +30% from here. Prices are breaking out today, and on a risk-adjusted basis, this is my best new shot at a long.
Beyond Technicals:
GE's order book and backlog are at record levels, providing clear visibility into future revenues.
GE reinstated its Dividend policy.
GE is GEAerospace a buy 5% below its ATH? - LONGGE is now priced at 5% below its recent ATH. The daily chart shows it to be on a VWAP breakout
over two standard deviations above the mean anchored VWAP originating in 2 and a half years
ago. Price has dipped and pulled back to the midline of the Bollinger Bands and buying volatility
is fading as can be seen on the indicators. I see this as a safe point to add to my GE long
positions of shares and call options. Having trimmed some of those positions 4 weeks ago, I
will add the same amount back in along with 20% extra. When earnings are upcoming in
August I will again look for a pivot high from which to trim again.
GE Possible Head and Shoulders Pattern GE and the whole Aerospace and Defense industry have been relatively strong as of late. However we are entering into the Memorial Day weekend and the low volume that comes with it. On May 8th General Electric’s price pushed up to the $170 level, a level with a large amount of options interest. This $170 strike is considered the Call Wall and an area of large resistance. Since then prices have pulled back and are currently sitting on what I believe to be another big support level at $160, a large options strike. The $160.00 level also looks to be the “neckline” of a head and shoulders pattern. If this plays out, $149.92 would be the target area.
Thanks for reading! Stay disciplined and stay green!