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Non-Tech : General Electric (GE)

GE 307.27

+0.7%

Nov 7 3:59 PM EST

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To: Underexposed who wrote (2938)	11/9/2018 6:59:05 PM
From: Underexposed	of 3256

That chart I posted did not transfer the features that I wanted to discuss.... I think I will do a complete analysis which will show the charts as I usually do. First of all I want to show a very long term P&F chart This is a 10 year view... basically a 8 year share price climb has fallen apart in just 2 short years. This is an incredible drop to me and it has not ended IMHO. Look at the column SMA's....See how close they were on the decline of 2008 and the rise from 2009 to 2016... now look at the gap that exists between the Blue and Red lines NOW.... it is huge and diverging. There is no hint of a slow down here... IMHO those supports are pretty weak and we will be challenging the final one before 2019...maybe even breaking it. There could be another rest between $8.00 - $9.00 but this will definitely NOT a bottom. Here is my complete analysis starting with a normal P&F and Trigger chart in this P&F chart... look at that drop in roughly a month...about $4.00 from $12.50.... that is about a 30% drop...wow. Unlike the longer viewpoint there is no sign of a resistance or support line... even the chart itself is at a loss.... it predicted a drop to $10.60...well that algorithm was blown away :) The trigger chart is pretty much the same as I described it last time. Now you can see the MACD/BBWidth I was talking about.... it almost happened but that is over for now... the MACD is still falling and the BBWidth has continued its rise. The rest (I cannot call it a bottom) when it comes will happen when the MACD and BBWidth reverse direction. It looks like it wanted to do it earlier in the week but that was then and this is now. As well you want to see a rise in the Slow Sto....definitely not happening right now... the slide will continue. I would say that support I showed in the long term view of the P&F chart will collapse easily. OMG... everything about these two charts SCREAM BEAR. The Sentiment chart shows a Par Sar catching up to the share price but I really only trust its reversal signal in the throat of a BB squeeze and that ain't gonna happen for quite a while.... any reversal that happens when the Pas Sar touches the share price will probably be a short term rest only. the Force 30 is hugely bearish and no sign of improvement. The RSI (30) is diving into the MUD And the ADX DI +/-...can it be more bearishly diverged???? Yep it can.... See the dark line at the bottom.... that is the ADX itself and it indicates the STRENGTH of the current indication... Well it is getting stronger by the day. The Ichimoku chart is easy to see that it could not be worse.... it is falling further under the red cloud.... The weakness shown by the tiny green cloud will never be tested. The indicators offer no hope whatsoever... Conclusion One cannot be positive about anything right now. I said earlier that I did not think GE's troubles were 100% due to company problems and I still believe the Trump administration and its confrontational attitude re trade is still creating difficulties. However the cutting of the dividend down to basically nothing ($0.01/share /quarter or $0.0033/share/month) is killing the stock right now as shareholders who owned GE for income are fleeing in droves. You might think that the USMC (NAFTA 2.0) agreement is a done deal.... far from it. It needs to be ratified in all three countries and with the loss of the HOUSE Trump's difficult job has gotten light years more difficult. Canada and Mexico want that Steel and Aluminum 25% Tariff removed before ratifying their part of the bargain and the change in House is a roll of the dice. Neither Republican or Democrat governments have been particularly generous to Canada when it comes to commerce... The last president liked by Canada was Bill Clinton with Al Gore. I am ranting here as a diversion but what I mean is that the world's economic troubles could go on for a decade and you are now seeing countries (including Canada) seeking alternatives to the easy fruit that was America commerce. What I am saying is that GE has a lot of work to do before it will be successful again.... It will be interesting to see what Mr. Culp will do...he certainly took on a challenge. UE

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