The Greedy Trader Weekly Analysis
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Archive
- 8/16/2019 -
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General Electric (GE)

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Summary:
Weekly :Broken trend support lineWeekly  MACD line has moved below its signal lineOversold sector
Daily :Bearish Downside Tasuki Gap CandlestickStochastic has raised above the signal lineA Parabolic SAR indicator is below and near the price20 Day Moving Average has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 61.8% retracement level
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It was the negative week for the General Electric (GE). During the week, the GE dropped -0.36 points, or -3.93%, and closed at 8.79 on Friday, August 16, 2019. Weekly volume was 98% above average.

GE is a member of Conglomerates Sector. Conglomerates is the second most oversold 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 downtrend had started on July 20, 2016 at 33.00 and reached 6.66 on December 11, 2018. GE lost 26.34 points, or 79.82%, in 124 weeks. The chart has formed a Broadening Descending Wedge chart pattern. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See GE medium-term trend chart]
A medium-term uptrend had started on December 11, 2018 at 6.66 and reached 10.93 on February 27, 2019. GE gained -4.27 points, or -64.11%, in 11 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (10.97) 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 medium-term trend.

Weekly Technical Indicators: [See GE weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See GE short-term trend chart]
A short-term downtrend had started on August 8, 2019 at 9.53 and reached 7.65 on August 15, 2019. GE lost 1.88 points, or 19.73%, in 7 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 Lane's Stochastic help.

The daily MACD line is below its signal line since July 31, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

A Parabolic SAR (stop and reversal) indicator (8.83) comes close to the price (8.79). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.

Candlestick pattern: [See GE candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.56
Williams' Percentage Range (W%R) 75.80
Lane's Stochastic (%D-Slow) 21.90
Greed/Fear Indicator (GFI) 25.56
Moving Average Converg./Diverg. (MACD) -0.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.77
Williams' Percentage Range (W%R) 75.80
Lane's Stochastic (%D-Slow) 49.57
Greed/Fear Indicator (GFI) 39.47
Moving Average Converg./Diverg. (MACD) -0.04
Trading Signals
Description Value Chart
Upper Bollinger Band 10.97
50 Day Moving Average 10.09
20 Day Moving Average 9.77
Weekly Stochastic Crossing 9.10
Parabolic System 8.83
Price 8.79
Daily Stochastic Crossing 8.15
Lower Bollinger Band 8.11
Sector and Industry
Description Name Rank
Sector Conglomerates 2
Industry Conglomerates 53
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 9.53
High Date 08/08/2019
Low 7.65
Low Date 08/15/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 9.53
High Date 08/08/2019
Low 7.65
Low Date 08/15/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 10.79
High Date 07/31/2019
Low 7.65
Low Date 08/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 10.77
Support 10.97
Low 6.66
Low Date 12/11/2018
High 10.93
High Date 02/27/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status
Resistance
Support
High 33.00
High Date 07/20/2016
Low 6.66
Low Date 12/11/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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