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Downtrend Broken Resist.Archive
- 5/10/2024 -
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General Electric (GE) Technical Analysis
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| Summary:
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| | It was the negative week for the General Electric (GE). During the week, the GE gave back -0.78 points, or -0.48%, and closed at 163.38 on Friday, May 10, 2024. GE was trading at average weekly trading volume.
GE is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See GE long-term trend chart]
A long-term uptrend had started on July 5, 2022 at 59.93 and reached 180.36 on March 27, 2024. GE gained -120.43 points, or -200.95%, in 90 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (79.26) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GE medium-term trend chart]
A medium-term uptrend had started on January 3, 2023 at 65.21 and reached 180.36 on March 27, 2024. GE gained -115.15 points, or -176.58%, in 64 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 133.41 and resistance is at 191.74. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See GE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 19, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See GE short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 133.99 and reached 170.80 on May 7, 2024. GE gained -36.81 points, or -27.47%, in 35 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (165.92) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See GE daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since April 22, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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