Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
GE: in a good position
2021-01-26 • Updated
GE reports its quarterly earnings at 15:00 MT time today.
Summary
Overall, GE appears to be in a good strategic position. Even if it doesn’t beat the market expectations on the coming earnings report, it seems to be worth to buy to make mid-term gains.
Fundamental
The consensus EPS forecast is $0.08 (against $0.21 a year ago). While the virus hit the production process of this company quite hard making it spend a lot of cash in 2020, it seems to have managed to recover well and possess enough financial capacity to carry on with its plans. In all core segments of its business such as aviation and power, the company has optimized its approach to financing to focus on profitability. In addition to that, Q4 is traditionally strong for GE. Therefore, the overall tactical and strategic outlook for GE is pretty positive.
Technical
Previously, things weren’t looking quite good for GE’s stock. As the company has been struggling to bring consistent revenues, investors have been holding mostly a bearish view on its stock. It was roughly above $6 per share at the end of 2018 but then the price reversed to the upside as the tech-giant started re-visiting the financial workings of the company. When the virus hit, the stock was going up and was trading at $13. Losing more than 50% of its value, it was at $6 again just several months ago. Currently, it trades at $11.
In the mid-term, the stock looks prepared to jump to the resistance of $11.70 and break it. The support of 50-MA touched by the current stock price seems to provide technical reassurance of that. If the marked channel stays in power, the stock will be challenging the tactical resistance of $13 by the end of March.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5.FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area.
- Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
- Start trading!
Similar
Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...