- GE Stock price is currently in an uproar despite the messy financials. They may see a fall in profit in the next quarter.
- Technical indicators of GE suggest strong momentum in the future. It is currently trading near the value of $85
GE has observed sloppy financials in the past quarter. Meanwhile, the EPS of GE has also seen a decline in the latest quarter. GE Healthcare is an $18bn business and will enter the market as a strong competitor. GE Aerospace has also seen strong growth and can see a new high in the future.
General Electric has a market cap of 93.4 Billion and an operating margin of 5.12%. They plan to communicate with shareholders closer to when and how GE HealthCare shares will be distributed to them. It has seen a decline in revenue from the last quarter.
Technical Indicators Of GE Suggests An Upside Trend
The weekly technical chart of GE hints towards a consolidated trend in the future. On coming to the daily chart, the asset price is trading near the value of $85 with a gain of 0.11%. A strong upside trend line formed in the GE stock price suggests a strong move. The asset price currently trades above the 50 and 100 Daily Moving Averages. There is an upcoming positive crossover in the Daily Moving Average.
Resistance to General Electric can be found near $100. Meanwhile, the Support of the GE can be found near $60.
RSI: RSI of the asset price is near 70 highlighting its presence in the oversold zone. There is a negative slope formed which suggests a weak downtrend.
Conclusion
GE has seen messy financials in the last quarter. The stock price is currently observing an upside trend and can move to a new high.
Technical Levels
Major Resistance:$100
Major Support: $60
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/11/19/is-general-electric-stock-price-looking-to-crossover-for-100/