General Electric Co (GE) 3 Day Down Streak Ended, Breaks Above 20 Day Average; Price Base in Formation Over Past 90 Days

General Electric Co 4 Hour Price Update

Updated July 29, 2020 04:33 PM GMT (12:33 PM EST)

In the past four hours of today’s trading session, GE’s price is down $-0.36 (-5.3%). To help put that in perspective, note that General Electric Co’s peers in the in the Electrical Equipment industry are down -1.98% on average during this time, while the broader Industrials sector is up by an average of 5.98%.

General Electric Co Daily Price Recap

General Electric Co is up 2.68% ($0.18) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 7.49% from the day prior, and up 26.54% from the same day the week before. Let’s take a look at the daily price chart of General Electric Co.

GE

General Electric Co Technical Analysis

Notably, General Electric Co crossed above its 20 day moving average yesterday. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that General Electric Co’s price has gone up 5 of the previous 10 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about GE:

    $GE Took up a position this morning for first time. I'm sure the loudmouth and chief will throw them a Emergency Defense Act bone soon as the Trump family buys a GE position.

    svt4cam