General Electric - contrarian buy?NYSE:GE is not the stock you probably want to own given all the heat experienced by the company recently.
But from contrarian perspective, nice levels right now to attempt speculative buy. Price retraced by 61.8% of previous bounce and is holding the line of previous resistance. Today may be the third daily candle when 7.8 is held, indicating that good support zone might be formed at around current levels.
Trade: stop at 6.39 (previous low), target at ~13$
GEC trade ideas
GE Elliott Wave Pattern Spotting (long)GE:
I have zoomed out to the supercycle level on a weekly and the general path is towards $25 zone (unless we completely get out of this pattern).
Some things I've noticed looking over the large patterns:
1. Large corrections lasted 2 years
2. Wave 2 and 4 alternate from the previous set meaning:
Look at: 2003 - 2007 upswing pattern (notice waves 2 and 4), Then look at the upswing pattern from 2009 - 2016, compare wave 2 and wave 4 of a larger degree to 2003-2007 then 2018 to present compare that to 2009 and 2016. Obviously realize that there are 2-year corrective patterns between them. But we have alternated the waves so if 03-07 started with Wave 2 sharp, look at the 09-16 and you'll see wave 2 went sideways. I have seen this many times on bullish moves so my point is, when people look for entry or exist points and want to predict a bit what the wave pattern might do, how far it will correct or increase...zooming out has always worked for me.
If you're good at spotting patterns, you'll be able to see opportunities.
GE is a very slow-moving stock so I swing trade it. It will fill a few gaps: $11 and $8 but there's also a gap in the 25s and between 32.40-34.73 that hasn't been filled yet so I say we'll head to 35 before massive correction.
This is just an overall analysis, I confirm direction by counting waves, using a few indicators, looking at my favorite analysts on youtube and tradingview. I'm not a financial pro and only trade for myself, it's been working well. I have learned stock trading by trading BTC as the systems run Elliott Wave pattern so it's identical only 24/7, if you want to learn fast, go trade BTC.
If you have other ideas, please share!
The waveThis is what the wave looks like for anyone interested from my last post. This will help you new traders understand the different kinds of trends a market can take on. Dont over complicate it. If your not trending nicely then go find something else to trade. This is GE and is a good example of an uptrend. We have the green bars and the wave is slanted up at a 12-2 clock angle.. This is raghee horners tool..i take no credit for making it..ive just learned how to use it.
GENERAL ELECTRIC (GE): Close To Supply Zone
General Electric is very close to a decent area of supply.
looking left at structure we can see how the underlined area was significant for the market participants in the past.
+ rsi has reached the overbought condition and we haven't seen a bearish reaction on this stock since summer 2019.
good luck!
GE - Still Chugging Along!GE is up premarket on a strong earnings report. Although guidance for this year came down a bit, cash flows are projected to be better than expected. Management is committed to turning things around and keeping the momentum going. Premarket the stock is trading around $12.50-$12.70. This is above the outlined channel and should be the push that gets the stock to $13.30. This is a name that I am adding to on any pullback. Need to monitor the situation with the 737 MAX. GE did say that their projections are based on the Max resuming flights this summer.
Future path for GE?Is a rebrand in store for GE when we start using wireless electricity? Look up Zenneck Waves and companies like VIZIV and Zenneck Power. There is already an operational tower in Milford, TX. I'm sure GE will become involved in this tech if they wish to remain an industry powerhouse for centuries to come.
General Electric: New Bull Cycle starting.GE is on Higher Highs on the 1W chart for the first time since August 2016. That was the last peak before a strong 2 year bear cycle hit the company. As you see on the chart General Electric's trend is a parabolic Channel starting with the All Time Highs in 2000. This long term curve has entered its asymptotic phase and may initiate the recovery back to the ATH.
At this stage however we choose to focus on the next Bull Cycle which based on the following parameters is about to start:
* As mentioned Higher Highs on 1W.
* RSI on a Channel Up.
* Long term support at 5.50 holding.
A Golden Cross will simply confirm the new Bull Cycle. We are still in the early stages, GE is an excellent long term investment for your portfolio.
Our Target Zone is 28.00 - 32.00.
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GE (General Electric), Look at this Mirror Level!..In this chart, you can see a nice example of how Mirror Levels works.
If you see such a situation you can open your position with a nice risk/reward ratio!
Push like if you think this is a useful idea!
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GE - revisited!GE moving along as expected. Consolidating impulse leg that took out two prior peaks. Looking for next move to $13.63. I expect this stock to be a winner this year. Larry Culp doing his thing and turnaround is a process. Is it sexy? No. But if you're looking for conservative plays within this crazy momentum market this chart looks very traceable to the upside. Moving averages all look nice. RSI and MACD may move sideways a little longer but I do not expect this stock to give up much. Nice FIB support here on both the impulse leg and the breakdown area from Oct 2018. Be patient here.
GE 1 month Boom or bust?We have two scenarios on the table for GE here. If it holds support at the 89% fibonacci level then we can expect a potential move much higher shown with green boxes as targets. I derived these targets using fibonacci extensions. the elliot wave subwaves are in yellow.
If it breaks below the 89% fibonacci level we can expect a potentially devastating scenario with it going to zero.lets stay optimistic and go long with the stop just below the 89% fibonacci level as it seems the more likely outcome.
Good luck and happy trading
General Electric Trade setup Entry level $12.50 = Target price $15.50 = Stop loss $12.00
Levels of Interest = $12.32 daily resistance
Bullish outlook for the stock as sentiment and technicals look more and more positive. Hated in 2018-19 its finding some love.
Average Recommendation: oVERWEIGHT Average Target Price:$12.13
10 BUY
00 OVERWEIGHT
09 HOLD
02 SELL
Company profile
General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through the following segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital.
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