General Electric Company (GE) Price Forecast: Technical view remains bullish

Ivan Brian FXStreet

GE stock technical analysis

Taking a look at the big picture, we can see just how badly GE has performed over the last number of years. GE stock is a long way from its peak back in mid-2016 near $32. A steady downtrend appears to have bottomed out in the pandemic lows of 2020 and taking this move provides some nice Fibonacci retracement levels to aim for. $13.25 is the pre-pandemic high from February 2020, so ideally to remain bullish GE needs to stay above here. This brings $14.47 as the next target, which is the 2021 high thus far. A break here then brings the 38.2% Fibo retracement resistance into play at $15.51 and beyond $18.60.

On the daily chart, we can see the key level to keep our bullish trend in place is $11.96, the low from March 11. Holding above this keeps the series of lower lows in place and confirms the bullish trend. The slight concern is the divergence of the Moving Average Convergence Divergence (MACD) indicator, which has yet to reach the highs from November 2020. The MACD is lagging, so it should catch up, providing the bullish trend stays intact.

9 and 21-day moving averages have held in the late 2020 rally and provide further support to the bullish trend. So long as GE stays above these levels, we can take bullish positions with stops just below the moving averages to manage our risk.

Traders taking a slightly longer-term, trend-following view may look for a pullback to the low $13 area or trade a breakout of the $13.69 high with confirmation and a further position at the break of $14.47.

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD struggles to regain pace; gyrates around 1.1670

EUR/USD clinches humble gains around 1.1670 following Tuesday’s close on Wall Street. Indeed, marginal losses in the US Dollar encourages spot to set aside two dauly pullbacks in a row and maintain the 1.1700 barrier on the cross-hairs for now. Moving forward, US inflation tracked by the PCE and another revision of Q2 GDP data should keep investors entertained on Wednesday.

Gold struggles near $4,650 ahead of US PCE inflation data

Gold struggles around $4,650 early Wednesday after the previous day's two-way swings as traders await the US PCE data for cues about the Fed's interest rate path. The outlook could drive the US Dollar and the non-yielding bullion. Meanwhile, renewed hopes for a US-Iran peace deal, weak Oil prices, sliding US bond yields and diminishing odds of an immediate tightening by the Fed undermine the USD, which could likely limit Gold's downside.

Bitcoin posts strongest weekly gain since November 2024 as market activity surges

Bitcoin (BTC) has posted its strongest one-week gain since the November 2024 US presidential election, climbing 23% over the past week as spot market activity and institutional demand returned sharply, according to a Tuesday report from K33. The rally pushed Bitcoin from around $63,000 to over $80,000 by late Monday.

America’s self‑inflicted trade wound

I’m conflicted about the trade war that the U.S. has started with Canada. Let’s be clear: any representation that Canada has been taking unfair advantage of the U.S. or that they have been treating us badly for years is a bogus characterization. In reality, the shoe is on the other foot. It’s the U.S. that has been behaving badly.

Canada hits US goods with tariffs; The rate market sees a problem

On September 8, Canada begins charging its own importers 15%, 25% and 50% on roughly 700 lines of American goods. The measure is billed as dollar for dollar, and on the arithmetic of covered trade it is. What it is not is a tax on the United States.