General Electric Does it Again: Heads Down for the 6th Straight Day

The Hourly View for General Electric

  • At the time of this writing, GE’s price is down $-0.01 (-0.05%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 $-0.58 (-4.59%) from the day prior.
  • General Electric has seen its price go down 8 out of the past 10 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • 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.

Below is a daily price chart of General Electric.

GE

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