Momentum Reversal? General Electric’s Heads Down for the First Time in 4 Days

The Hourly View for General Electric

  • Currently, GE’s price is up $0.07 (0.07%) from the hour prior.
  • General Electric has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly 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.

General Electric’s hourly price chart is shown below.

GE

The Daily View for General Electric

  • At the moment, GE’s price is down $-0.38 (-0.37%) from the day prior.
  • General Electric has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on General Electric. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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