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Industrial Conglomerates Industry Stocks Technical Analysis - GEArchive
- 10/18/2024 -
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General Electric (GE) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the General Electric (GE). During the week, the GE climbed 1.45 points, or 0.76%, and closed at 192.61 on Friday, October 18, 2024. Weekly volume was -45% below average.
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 194.80 on October 17, 2024. GE gained -134.87 points, or -225.05%, in 119 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (149.86) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 194.80 on October 17, 2024. GE gained -129.59 points, or -198.73%, in 93 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 162.63 and resistance is at 232.48. 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 Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 13, 2024. This is an indication that the medium-term trend is up. 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 September 30, 2024 at 183.09 and reached 194.80 on October 17, 2024. GE gained -11.71 points, or -6.40%, in 17 days. The chart has formed a Rising Wedge chart pattern.
 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.
The daily MACD line is below its signal line since October 2, 2024. The distance between MACD and the signal line is low and getting smaller.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 5.57% on Friday. It is 52.58% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Industrials |
8 |
| Industry |
Industrial Conglomerates |
88 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Low |
183.09 |
| Low Date |
09/30/2024 |
| High |
194.80 |
| High Date |
10/17/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
153.21 |
| Low Date |
06/14/2024 |
| High |
194.80 |
| High Date |
10/17/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
133.99 |
| Low Date |
04/02/2024 |
| High |
194.80 |
| High Date |
10/17/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
232.48 |
| Support |
162.63 |
| Low |
65.21 |
| Low Date |
01/03/2023 |
| High |
194.80 |
| High Date |
10/17/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Broken Resistance |
| Resistance |
172.35 |
| Support |
149.86 |
| Low |
59.93 |
| Low Date |
07/05/2022 |
| High |
194.80 |
| High Date |
10/17/2024 |
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