General Electric (GE) Closes Last Hour Down $-0.02; 2 Day Up Streak Ended, Pin Bar Pattern Appearing on Chart

The Hourly View for GE

Last Updated September 18, 2020, 23:13 GMT

Currently, GE’s price is up $0 (0.07%) from the hour prior. GE has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50 and 100 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

General Electric Co Daily Price Recap

The choppiness in the recent daily price action of General Electric Co continues; to start today, it came in at a price of 6.88 US dollars, down 2.41% ($0.17) since yesterday. The price move occurred on volume that was down 44.68% from the day prior, but up 32.37% from the same day the week before. Here is a daily price chart of General Electric Co.


General Electric Co Technical Analysis

Or to view things another way, note that out of the past 30 days General Electric Co’s price has gone down 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to GE:

    $GE This leaves the group of investors who probably make up the vast majority of people still reading at this point — moderate aviation bulls who want some downside protection in case the recovery takes longer than expected and the "new normal" for aviation is low-single-digit growth.

    For these investors, GE is the better buy. The industrial conglomerate is obviously heavily reliant on commercial aviation for now. However, its highly regarded CEO Larry Culp is not a man to bet against in terms of making businesses run better — his track record at Danaher proves it — and there's definitely potential to improve operational performance at power and renewable energy. That, and ongoing growth at healthcare, might be enough to limit the downside should the aviation recovery disappoint.

    Giddy up!! 13$ soon enough..