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Industrial Conglomerates Industry Stocks Technical Analysis - GEArchive
- 5/3/2024 -
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General Electric (GE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second positive week after 3 consecutive negative weeks for the General Electric (GE). During the week, the GE gained 1.81 points, or 1.11%, and closed at 164.16 on Friday, May 3, 2024. GE was trading at average weekly trading volume.
 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 (79.05) 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 132.41 and resistance is at 189.90. 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, but getting bigger. 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 166.26 on April 30, 2024. GE gained -32.27 points, or -24.08%, in 28 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 160.10 and resistance is at 168.32. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See GE daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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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 |
7 |
| Industry |
Industrial Conglomerates |
36 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
146.78 |
| Low Date |
04/19/2024 |
| High |
166.26 |
| High Date |
04/30/2024 |
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| Weekly Trend |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
168.32 |
| Support |
160.10 |
| Low |
133.99 |
| Low Date |
04/02/2024 |
| High |
166.26 |
| High Date |
04/30/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
133.41 |
| Support |
156.62 |
| High |
180.36 |
| High Date |
03/27/2024 |
| Low |
133.99 |
| Low Date |
04/02/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
189.90 |
| Support |
132.41 |
| Low |
65.21 |
| Low Date |
01/03/2023 |
| High |
180.36 |
| High Date |
03/27/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Broken Resistance |
| Resistance |
148.61 |
| Support |
79.05 |
| Low |
59.93 |
| Low Date |
07/05/2022 |
| High |
180.36 |
| High Date |
03/27/2024 |
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