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Non-Tech : General Electric (GE)

GE 304.26

-1.4%

Nov 4 3:59 PM EST

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To: Underexposed who wrote (2990)	1/17/2019 12:25:11 PM
From: Underexposed	Read Replies (1) of 3256

I have been away for most of the latter half of December and first part of January and General Electric has shown us a new look especially in the new year. You can see a rather coarse P&F chart to see how the current price compares to the historical record As you can see the price has rebounded about $2.00 from $7.00ish to about $9.00ish. From a short term trading perspective it has been a pretty good run...almost a 30% gain over that 4 week period if you were able to time your purchase at the bottom... at the very least the daytraders have had a good time of it. Is this a bottoming out for GE stock? Well that remains to be seen in 2018 there have been similar bounces in 2018 that looked good for a while but did not last. I will do a full TA of this stock from my perspective....That is accumulating Bull/Bear indications in my charts, cancelling opposites and looking at the residue. Here is a current P&F and Trigger chart Well you can see in the P&F chart that there is a well defined diagonal Support level in the green line. If the Share price were to suddenly plummet there might be a support at $8.10 or perhaps at $7.80...I doubt though that they would be strong supports.....certainly not as strong as the green line. Combined with the fact that the share price has breached a double top makes this a Bullish chart from this point of view. There is no indication in this chart as to where a resistance line can be identified. The circle of the column moving averages has not shown a change in shape. The bearish Blue line is hinting at a reversal but it has not happened yet.... this would be only mildly Bearish by comparison. The trigger chart is very interesting as it is here that we can see a resistance line which has formed at $9.00. This is a strong resistance defined about 7 points at this time. The share price has entered a consolation period after a nice rise..... note the double bottom formed at Christmas before the rise. Personally I would not have picked that as a buy signal but the new year shows a trigger chart breakout on January 1.... Note the sudden rise of the BBwidth back then along with the nice rise of the Slow Sto and MACD....It was Bullish back then...but bumping against a resistance and entering consolation degrades that a bit to mildly Bullish. The Slow Sto however is Bullish ... See how flat it is and pegged high above 80 The MACD is mildly Bullish as it is showing signs of reversing direction The BBwidth is definitely showing signs of reversing direction.... this is not bearish per se, rather it is a sign that the current run is probably over until the Bollies become tighter...and THEN we will have a clearer picture of the future. The Sentiment chart is mixed indications Starting from the top the Par Sar is Bullish right now... I really don't trust the Par Sar unless it shows a reversal in the throat of a BB squeeze...but it is bullish right now. The Force (30) is definitely Bullish The RSI(30) is dead-assed Neutral... with the indication flat-lined on 50 The ADX DI+/- is weird... the bullish cross in early January does not look bullish anymore.... this could easily switch to bearish in a heartbeat. I would call this mildly Bearish So on the whole the chart is on the bullish side but it is not unanimous. The Ichimoku chart shows some interesting signs. See how the share price has entered a red cloud.... It took a few tries before it penetrated the lower edge of that cloud but it did it. We are stuck in glue right now though. I don't expect a sudden rise through this messy cloud. On the plus side the lower edge is now a support but on the negative side the upper edge will be a resistance.... This has muted the rise to the point of being Neutral right now. the thin red/blue lines in the top circle is Bullish The onBal Vol is Neutral The CCI is only mildly Bullish as it appears to be falling out of the green but that can change easily. Adding up each indication we get Bullish.............. 5 Mildly Bullish.... 3 Neutral............. 3 Mildly Bearish.. 2 Bearish............ 0 Cancelling opposites we get Bullish.............. 5 Mildly Bullish.... 1 Neutral............. 3 Mildly Bearish.. 0 Bearish............ 0 So overall things still look bullish but there are signs that this may change. This current run has ended and we are against a pretty strong resistance as well as being in that red cloud. If I were currently holding the stock, I would continue to hold it. However I would not add to my holding unless that resistance was broken. I might consider a limit stop loss at say $8.50 if I had significant gains to protect. If I was not into the stock, I doubt I would buy it unless the share price broke through the upper edge of the red cloud.... it is too dicey as far as calling this a rising from a bottom yet..... as I said at the beginning of this post, we have seen promising rises like this before only to see them fail. A REAL BIG test is coming soon in a few weeks when they present an earnings report. A lot will depend on that report. _____________________________________________________________________________________ Disclaimer: I am not a registered broker. I am retired and use Technical Analysis as the main tool in my investment decisions. Accept or reject my comments as you will, but do your own Due Diligence (DD) before making any decisions based on the information I provide. Underexposed

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