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GE Which Way?An argument could be made here for a bullish pennant. Historically ~$13 has been a strong area of resistance looking back at Oct 2018 and Feb 2020. GE has been trading in bullish trend for a while now. As of recent it seems to consolidating with some indecision. If it breaks through the $14 barrier, could continue a nice bull run, however if it breaks to downside, I think we could see a retracement back to the ~$11.80 level and further consolidation. This is my first idea, any feedback is welcome.
NYSE:GE
by michael_poos
GE Could go either way... (LONG TERM)GE has entered a consolidation zone. a breakout from this zone will indicate whether GE will have huge gains or will drop significantly. This projection is long term, GE could oscillate in this zone for years, or it could happen very soon. Keep GE on your watchlist and occassionally check back. My prediction is LONG with an increase of 8x over 8 years. (70% likely) . This long prediction is because of the nice double bottom that happened in MAY of 2020. Since GE rose back up as fast as it dropped indicating that it will continue in an uptrend. This is a super long term prediction that will take a lot of time for it to reach this goal, however I feel that now is a good time to buy shares worth $14 that could be worth $100+ by 2029. As far as projected inflation is concerned, this will still be a gain of +20% over 5-year inflation. There is a possibility that we have hit an upper level of the current downtrend. This may be the case, however, With the current business/economic plan of the U.S. GE is a company that has influence inside the American government and personally I think will win in the end.
NYSE:GELong
by CrazyLarry
2
GE: Complete Multi Time Frame Analysis (1h, D, W).Hello traders and investors! Let’s see how GE is doing today and do a complete Multi Time Frame Analysis (MTFA) on it! First, in the 1h chart, we see a short-term bear trend , as we have lower highs/lows, and a purple trendline connecting the previous tops. But GE recently hit the orange line at $ 12.79, which is a nice support level. If GE is about to reverse this short-term trend, now is the best time for it. The stock must either break the purple trendline or make a bullish structure. Now, let’s see the daily chart: We may have a short-term bear trend in the 1h chart, but the trend is slightly bullish in the daily chart. Although we don’t have higher highs, we do have higher lows, and GE just hit the purple trendline today, which is a nice support level as well, and it is bouncing back up. The orange line in the 1h chart and the purple trendline in the daily chart make this price level a Dual-Support zone in different time frames, something worth noticing. Today’s reaction is quite good, but GE still must defeat the green line at $ 13.69 in order to fly again, as this point worked as a resistance twice in the past, and it seems to be an important psychological point. While this is possible, keep in mind that we are in a delicate situation in the long-term perspective: We recently hit the green line at $ 13.26 (pre-covid high), and now the stock is dancing around this price level. It can’t drop, because it is still a strong stock, but it is not that strong to the point of breaking this resistance for good. All that is left is an annoying congestion , until the 21 ema catches up with the price. We have something that resembles a Pennant pattern , and if that’s the case, fantastic. The low volume is another evidence that this is just a harmless correction in larger time frames, but although this is a good sign, it'll probably take a while before GE does something interesting again. We must be patient here, but let’s keep monitoring GE closely. And if you managed to read this far, remember to follow me to keep in touch with my daily studies, and please, support this idea if you liked it! Thank you very much!
NYSE:GE
by Nathan_The_Finance_Hydra
4