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- 1 GE stock price trades below the major 20, and 50-day daily moving averages and current volume is above average.
- 2 General Electric Company (NYSE: GE) stock’s 52-week price range is around $48 – $117.
General Electric Company is a firm that delivers systems and engines for commercial and military aircraft, along with the equipment and solutions for generating or creating power from renewable resources, grid regulation, and diverse power facilities.
General Electric Company’s latest quarterly balance sheet for the period ending June 2023, reported total assets of $187.79 Billion and total liabilities of $150.07 Billion. The debt-to-assets ratio of GE is at 79.92%, which might be a concern for the stock.
The latest quarterly earnings report for the period ending June 2023 displayed a revenue of $16.70 Billion, with a net income of $31.00 Million, and a profit margin of 0.19%. This quarter, the reported revenue exceeded analysts’ estimates by 1.09 Billion. The next quarter’s revenue is estimated to be 15.394 Billion.
The GE stock’s dividend yield for the TTM is 0.29% and its last dividend payment was $0.08 per share. The last ex-dividend date was September 25th, 2023 and its payout ratio is 3.90%.
At the time of publishing, the major EMA’s are bearish in General Electric Company. (NYSE: GE) and MACD shows a bearish cross on the charts with increasing width in the histogram and RSI is at 42 taking resistance from 14 SMA.
However, the stock ratings for General Electric stock are positive and highly recommended by 20 analysts who have evaluated it in the last three months. The 1-year price forecasts for General Electric Company stock by 15 analysts range from $110 to $141, with a high potential for growth.
The GE stock has a float of 1.084 Billion shares and a market cap of $120.69 Billion. The General Electric Company stock’s average volume for the last 10 days is 4.588 Million and its current volume is 4.719 Million. The General Electric stock has a CMP of $110.89 and an intraday gain of 0.87%.
The GE stock has been on an upward trend since September 2022, starting from $46 support and making higher highs and lows until it reached $117 by July 25, 2023.
However, the high level was unsustainable for the buyers and the GE price declined some points due to shareholders cashing out after the earnings report and ended up in a tight range. The GE stock made another attempt to reach the high but was met with more selling pressure due to the resistance.
Moreover, no activity or movement is seen on the chart following the dividend date, which is alarming and it could imply either more profit booking or a rapid rise exceeding the ATH level can be anticipated in the upcoming sessions.
GE Stock Price Technical Analysis in 1-D Timeframe
General Electric Company. (NYSE: GE) is experiencing a short decline from $117, The current market price of GE stock is $110.89 and is trying to break free of the consolidation range the stock is trapped in.
The stock may continue to fall further if it breaks below the current levels and breaks below $105, which could lead to a target of $100. On the other hand, if General Electric stock manages to reverse the trend and gain strong buying momentum, It could rise above $115, triggering a rally above $117 or higher.
Summary
General Electric stock drops from a yearly high of $117 to $110 after earnings. However, Analysts are optimistic about long-term growth. Stock may break out of the consolidation range above $115 or fall below $105 depending on the trend reversal. The technical indicators are bearish.
Technical Levels
Support levels: $105 and $100
Resistance levels: $115 and $117
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
