General Electric Company Stock Forecast

Weaker technical forecast for General Electric Company as stock downgraded to Hold/Accumulate.
(Updated on May 31, 2024)

GNE.PA Signals & Forecast

The General Electric Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 152.79€. On a fall, the stock will find some support from the long-term average at approximately 150.30€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -4.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for General Electric Company stock

General Electric Company finds support from accumulated volume at 145.00€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 2.00€ between high and low, or 1.33%. For the last week the stock has had daily average volatility of 2.04%.

Our recommended stop-loss: 143.64€ (-5.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)

Trading Expectations (GNE.PA) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect General Electric Company to open at 151.33€, and during the day (based on 14 day Average True Range), to move between 148.21€ and 155.79€, which gives a possible trading interval of +/-3.79€ (+/-2.49%) up or down from last closing price. If General Electric Company takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 152.50€ (0.33%) than the support at 145.00€ (4.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is General Electric Company stock A Buy?

General Electric Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.086 Hold/Accumulate Downgraded

Predicted Opening Price for General Electric Company of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.