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|It was a third positive week after 5 consecutive negative weeks for the General Electric (GE). During the week, the GE climbed 0.04 points, or 0.29%, and closed at 13.89 on Friday, July 13, 2018. Weekly volume was -26% below average. |
GE is a member of Conglomerates Sector. Conglomerates is the 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 12.61 on June 21, 2018. GE lost 20.39 points, or 61.79%, in 100 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 12.04 and resistance is at 30.11. 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 June 21, 2018 at 12.61 and reached 14.44 on June 27, 2018. GE gained -1.83 points, or -14.51%, in 0 weeks. The price is now at the 30.05% retracement level.
Weekly Technical Indicators: [See GE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 29, 2018. 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 downtrend had started on July 11, 2018 at 14.29 and reached 13.88 on July 13, 2018. GE lost 0.41 points, or 2.87%, in 2 days. Price is near the trend low.
Daily Technical Indicators: [See GE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since June 26, 2018.
Price is close to the 50 Day Moving Average. 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.