Mr. West Daily notes Report no. 2Based on a technical analysis for the month of December, a few stocks are showing signs of an up trend, down trend and consolidation. Here is a separated break down of stock companies.
Trending up: ROKT, MICT, ZYNGA, HERO, HERO, DENN, GE, NCLH, BOTZ, MVIS, SNE, SAVE, CCL
Trending Down: NIO, CAN
Consolidating: AESE, UA, NKLA, JBLU, CRON
Majority of the stock that are at a up trend are companies that are technology and industrial type. Both (HERO and BOTZ) ETFS are up so that is a clear indication for long term investments. The down trend stocks are also sharing some relative signs of having a strong up side based off being over bought this past month. However, there will be another progression of the down trend stocks reversing its down trend into an up trend.
One stock company in particular has also shown signs of sales increasing due to weather season changes. In the event of the U.S. economy taking a hit through the COVID-19, General Electric stock (GE) has grown with a 5.77% this month. Based on the U.S. climate changing to colder temperatures, there has been a growth of sales and revenue. GE supplies Heaters, Stoves, and Electric powered devices to warm homes. (See image link Below)
GE has also shown patterns of spike in sales during this time by using technical chart breakdown of looking at the charts past movement around the months of October to December. With the first signs of snow in the South Eastern part of the U.S., this may indicate that the Company may have a great increase of its share price due to colder temperatures.
1GE trade ideas
General Electric still looking strongIn our Monday morning Flight Path newsletter, we high-lighted General Electric as a company that may perform strongly into the end of the year as the rotation in equities continues into sectors such as Industrials.
This week saw price dip but end the week strongly with another bright blue “Go” bar.
The GoNoGo Oscillator has also managed to stay nicely in positive territory.
We would next like to see the oscillator continue to rally , and for volume to pick up (the GoNoGo Oscillator would turn darker blue), which would give price the momentum to test last week’s highs and perhaps get above $11.
Long GE Through 2022 In The ChannelGE is potentially working on it's third bull channel here thanks to their CEO; Henry Lawrence "Larry" Culp, Jr.
Larry had a fantastic history at Danaher corporation before moving into his current role.
Larry is highly incentivized to raise GE's stock price... He will net $47m for a 50% increase in price, and $300m for a 150% increase. I would expect him to figure it out...
Things get interesting past ~2022. If Larry is incentivized to hit ~$18, then what happens after he does so? I wouldn't expect a test of the last peak at ~$31.75. Will GE keep making lower lows?
Super high chance of hitting 12$ in the near termThe 6$ line is solid support gained from the monthly timeframe and the 12$ line is what i call soft resistance (a lot of activity here). What really is weird is how it closed on Friday. Check out the blue line, it was support and now is dead on resistance confirmed on Friday's close. Coincidence? Hmmmm. With all my oscillators pointing up and volume increasing i think it's primed for a hell of a break out. One can be conservative and straddle this but a big move is coming and my money's to the up side. 12$ within a month or 2. Let me know what y'all think :)
GE ABout to Double upWell Folks seems to me as if GE is getting ready to get back on its feet. ON 1 August 2000 GE was valued at 58.15 at its highest point and ever since seemed to be failing. That loosing streak that GE was in since the 2000s seems to be fading away very quickly. After December 3rd 2018 2 more lower lowes. 1st October 2020 to me is a jstart of many more wonderful gains on company such as GE. DYOR Not intended to be investment advice.