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|It was a second consecutive positive week for the General Electric (GE). During the week, the GE gained 0.22 points, or 1.19%, and closed at 18.76 on Friday, January 12, 2018. Weekly volume was 81% above average. |
Long-term trend: [See GE long-term trend chart]
A long-term downtrend had started on July 20, 2016 at 33.00 and reached 17.25 on December 28, 2017. GE lost 15.75 points, or 47.73%, in 75 weeks. The price is now at the 9.59% retracement level.
Medium-term trend: [See GE medium-term trend chart]
A medium-term downtrend had started on December 20, 2016 at 32.38 and reached 17.25 on December 28, 2017. GE lost 15.13 points, or 46.73%, in 53 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (20.18) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a medium-term trend.
Weekly Technical Indicators: [See GE weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since January 27, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 January 8, 2018 at 18.10 and reached 19.39 on January 11, 2018. GE gained -1.29 points, or -7.13%, in 3 days. The price is now at the 48.84% retracement level.
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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since November 24, 2017. This is an indication that the short-term trend is up.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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 Two Crows Candlestick pattern. The reliability of the Bearish Two Crows pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Two Crows Candlestick pattern during the last week.