GE trade ideas
SHORT Short by put option to weekly level support $5SHORT Short by put option to weekly level support $5
General Electric shorter time frame scenarioWhat my outlook is on GE depending on Market news. Keeping eye on RSI and Sell off pressure. Sellers are exhausted overall in Bigger time frame.
GE Long Scalp Setup for April-May 2020Long Scalp: Wave C of 4, targeting $8 = +15%
Stop-loss: $6
Overall trend: Bearish down to approx. $5
GE Good setup long term i have mentioned the bearish move that we had near 13$
Now we have Opportunity to long the GE for
Head and Shoulders on GEDownside on GE. It was understood that GE would not be able to survive a recession. We sure are facing a recession.
GE In a REALLY Bad Spot - Keep an eye out for $5.50 I think seeing how far back these resistance and support lines are there is a 3 test around 5.50 that will absolutely hold up if it breaks below. Honesty GE has some insane resistance in so many ways. Hard to say where to play it except I an say anywhere in the $4.15ish-$5.50 range if it gets that low could have some quick upside. Still wouldn't keep it for long. Unless you think GE is going back to it's glory days. Then 4-6 bucks is a steal. Not super sold on GE until they make a move internally to make them a great company again.
This stock is maybe the best if you are iffy about support/resistance to test out on a higher scale. Watch these levels from the 80's and 90's make stock prices move 30 years later. Support and resistance, volume and the news >
GE: Just testing out a predictionThis testing this out. Haven't read charts in a while.
Impulsive Move up followed by an Expanded Flat Pattern.
MACD shows over sold.
I would buy at around $7, sell close to $13-$14.
Possible 100% gains.
Long GE Strangle 6/19Look for GE to touch it's $6 support again before making another run up. I recently said GE would bounce off of that support because it is such a strong support. It hasn't broke ~$6 in 28 years. Yes, GE laid off of 50% of aviation today, but they are freeing up their balance sheet. They recently freed up $20 billion in sale. GE moves with the market so anything can happen, but I don't see them falling past $6.
I'm running a long strangle.
26 6/19 $10 calls @ .15
21 6/19 $4 puts @ .18
Closing out the short leg when GE gets around $6 and then riding the calls back up.
Thanks for reading.
Here it comes! Breaking out of a major channel. Wait for further confirmation for safety. There are some sketchy divergences these days.
Very nice channel for $GEWhether this rally lasts, this seems to be a reliable trading channel while it lasts. Watch for the break.
A bigger look at GE breaking out of its downward channelJust an extension of my previous chart showing GE breaking out of a very strong bearish channel
GE forming a bullish channelGE tends to follow the market but it has some things going for it.
- Freed up $20 billion recently in a sale of its biopharma sector.
- It is at a pretty hard support. It hit these levels in 08 before running up and before that 1992 was the last time it was this low.
- GE is too diverse to crash further and they seem to have the right ideas to increase free cash flow.
- GE is manufacturing ventilators to help combat this awful virus.
- Open interest for many strike dates is very call:put heavy. There is very little interest in OTM puts.
- GE was hovering around $12 before this crash.
Thanks for reading.
