General Electric Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for General Electric

  • Currently, GE’s price is up $0.11 (0.17%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as General Electric has now gone up 4 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on General Electric. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 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’s hourly price chart is shown below.

GE

The Daily View for General Electric

  • At the moment, GE’s price is down $-0.52 (-0.78%) from the day prior.
  • This is the 2nd day in a row General Electric has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between GE’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in GE’s price.

Below is a daily price chart of General Electric.

GE

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