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

The Daily View for General Electric

  • Currently, GE’s price is down $-0.02 (-0.15%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on General Electric. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 50 day changed directions on GE; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

General Electric’s hourly price chart is shown below.

GE

The Daily View for General Electric

  • At the moment, GE’s price is down $-0.1 (-0.71%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as General Electric has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Of note is that the 20 day changed directions on GE; it is now pointing up. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of General Electric.

GE