Home Forex General Electric Co (GE) Down 1.26%, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart

General Electric Co (GE) Down 1.26%, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart

by

General Electric Co 4 Hour Price Update

Updated July 17, 2020 04:34 PM GMT (12:34 PM EST)

The price of GE declined $0 (0%) over the past four hours. To help put that in perspective, note that General Electric Co’s peers in the in the Electrical Equipment industry are down -0.17% on average during this time, while its peers in the broader Industrials sector are up by an average of 0.51%.

General Electric Co Daily Price Recap

The end of a 4 day positive run has come for General Electric Co, which finished yesterday down 1.26% ($0.09). This move happened on lower volume, as yesterday’s volume was down 41.7% from the day before — and down 15.98% from the same day the week before. Below is a daily price chart of General Electric Co.

General Electric Co Technical Analysis

Volatility for General Electric Co has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about GE:

    $GE I always love a big buy bounce during lunch on a Friday. Had a sell limit set pretty high for my calls, but I cancelled them. Can’t wait to hear what comes out of this action. Maybe Government contract news linked with BA? I don’t know but we will see.

    Crazyko2002

Source Link

Related Posts