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- 1 GE stock price slid 0.89% in the last trading session and is currently trading at $114.39.
- 2 General Electric Company share is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (23.5x).
GE Stock is a global high-tech industrial company that offers power generation, grid, renewable, and digital solutions. It serves various customers with gas and steam turbines, plant upgrades, software, wind, hydro, and storage products.
General Electric Company’s share price is currently trading at $114.39, declining 0.89% in the last trading session. GE stock holds a market cap of 123.9 Billion. It has a total of 1.08 Billion shares outstanding. The PE ratio for the Stock is 12.2. The price is trading at 3.88 times its book value.
GE Stock derivatives data states that the current Implied volatility in the market is 20.59%, with a decrement of 0.98% in the last trading session. It has a total of 303.1K open interest contracts as of now. The PUT/CALL ratio is 1.13 indicating a bullish sentiment prevailing in the market.
GE Stock Price Prediction Using Price Action Strategy
GE Share price analysis reveals that the stock was in a correction phase and bottomed out in October 2022 and surged higher to change its prevailing trend in November 2022. The price again made a dip but ended up forming a new higher low after it got support from the 200 EMA.
The Year 2023 has been very fruitful for GE stock Investors as the price started rising from the very start of January 2023. Since then, the price has made one-way momentum and surged nearly 75% till now. The price has also formed a parallel channel pattern.
Recently, the quarterly results made the price open gap up and made a breakout of the channel to the upside but could not sustain.
Currently, the price is declining and trying to enter the channel pattern again. Also, the price has surged in the last 7 months with no major pullbacks. Hence, a correction is pending either time-wise or price-wise. Now, If the price declines, it may try to fill the gap created prior to the result date. Also, the price may observe a profit booking as the results are out.
GE Share Price Forecast from Indicators’ point of view
As per the EMA analysis, the GE Stock price is trading above 50 EMA and 200 EMA which indicates that the price has been in a strong uptrend.
At the time of publishing, the RSI value of the GE share price is 62.02 and that of the SMA line is 63.65. RSI is headed upwards by getting support from the SMA line which shows the short-term presence of buyers in the market.
Conclusion
General Electric Stock price prediction shows that the stock bottomed out in October 2022 and surged higher to change its prevailing trend in November 2022. The Year 2023 has been very fruitful for GE stock Investors as the price has made one-way momentum and surged nearly 75% till now.
The price formed a channel pattern throughout its up move in the past 7 months. Recently, the quarterly results made the price open gap up and made a breakout of the channel to the upside but could not sustain, and the price is trying to enter the channel again. Also, the price has surged without any correction in the price. Hence the price may observe either a time-wise or price-wise correction if it forms a negative pattern now.
Technical Levels
- Support levels: $106.87 and $101.73.
- Resistance levels: $117.96 and $122.34.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
