General Electric Company Forecast and Stock Analysis
Technical GE stock analysis for February 15, 2019.
|Shorts||0.99% ( 2019-01-31 )|
General Electric Company gained 0.50% in the last trading day, rising from $10.04 to $10.09 The price has been going up and down for this period, and there has been a -0.98% loss for the last 2 weeks. Volume fell in the last day by -16.03 million shares, and in total, 77.40 million shares bought and sold for approximately $781.01 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the GE stock was $10.09. This is 0.5% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.19% from a day low at $10.06 to a day high of $10.28.
30 day high of the GE stock price was $10.91 and low was $8.56.
90 day high was $10.91 and low was $6.66.
52 week high for the General Electric Company - $15.59 and low - $6.66.
General Electric Company lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 41.81% during the next 3 months and, with 90% probability hold a price between $12.59 and $15.69 at the end of this period.
Only positive signals in the chart today. General Electric Company holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $10.05 and $9.13. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 66 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $8.90 and $7.81.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, General Electric Company finds support just below today's level at $8.90. If this is broken, then the next support from accumulated volume will be at $7.81 and $7.66.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.22 between high and low, or 2.19%. For the last week, the stock has had a daily average volatility of 3.23%.
Our recommended stoploss: $9.50 (-5.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.