- General Electric healthcare division plans to cut debt and bring down costs and pursue truck acquisitions.
- Technical indicators suggest a downside trend of stock. The asset price is currently trading near $81.45
General Electric is grappling with supply chain distributions.They are also seeing persistent weakness in the power and renewable Energy sector.Meanwhile GE healthcare division plans to cut debt and pursue acquisitions. GE company is currently in the process of searching other source suppliers for other parts.Meanwhile, GE investors are mostly institutions and are long for a rise in the asset price. Various analysts are expecting a strong upside trend for the GE stock price in upcoming days.
General Electric co has a market cap of $88.9 Billion and has an EPS of -4.54. GE stock price is currently 30% away from the 52 week high and can cross it soon.
Bears Of GE Are Looking To Push The Price Down
The weekly technical chart of the GE stock price suggests a downside trend for the future. On coming to the daily chart the asset price is currently trading near the value of $81.45 and has seen a drop of over 2.61% in the past 24 hours. GE upside trend can see a halt near the value of $100. Meanwhile the downside trend can see a halt near the value of $50. The asset price is currently trading over the value of 50 and 100 Daily Moving Average. There can be a positive crossover in the future which can push the price to a new high.
RSI of the GE stock price is currently near the value of 44 with a strong negative slope. The overall sentiment of the RSI is bearish.
Conclusion
General Electric health divisions are currently looking to cut debt and bring down cost. GE stock price can see an upside move up to $100 in the future.
Technical Levels
Major Support:$75
Major Resistance:$100
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/10/general-electric-stock-price-will-ge-stock-price-be-able-to-maintain-the-mark-of-100/