- GE stock continues an uptrend raising the gains.
- Bulls looking in perfect shape maintain the grip above $100.
General Electric’s ( NYSE: GE ) stock price maintains gains above $100, showing that bulls have strong momentum and are peeking the strength over the charts. GE stock has outperformed in the past weeks and traded above the significant moving averages. From the start of 2023, GE stock showed a massive rally, which continued to surge without pausing.
Moreover, buyers continue to make fresh long positions because of the short-covering move of the stock. The stock escaped multiple tops in the past weeks and traded above the swing hurdle and psychological level mark of $100, where many sellers got trapped. The price action of GE stock indicates a massive strength and more bullishness in further sessions.
General Electric Company is an industrial company. The Company operates through its industrial segments, Power, Renewable Energy, Aviation, and Healthcare, and its financial services segment, Capital. Its segments include Power, which serves power generation, industrial, government, and other customers with products and services related to energy production.
Moreover, the charts show that the stock is rising with the channel, defending the lower trendline, and peaks bullishness seamlessly. The stock is showing a rising channel and continues to take an uplift from there. Furthermore, bulls have a strong trajectory and are heading toward the mark of $110 in the following sessions.
At press time, GE stock was traded at $106.30 with an intraday gain of 0.22% showing the bullishness. Furthermore, stock is in the hands of buyers and continues to surge in the past weeks. The intraday trading volume was noted at 3.846 Million.
Daily Charts of GE Stock
On the daily charts, General Electric stock shows a rising parallel channel and continues to form a higher highs rally in the past months. Recently, the stock surged by more than 20% in the past months. Moreover, GE stock is now trading in uncharted territory where the following targets are near to breaking, and buyers have attained massive strength.
As per the chart formation, the stock is above the round level of $100 and above the 20-day EMA.
What Technical Indicators Say?
On the 4 hours chart, GE stock is trading in the bullish territory and ready to claim further highs. Recently, the stock took support on the 50-day EMA and again bounced off on the higher marks.
The RSI is above the neutral marks near 60 and persists in holding gains, forming a positive divergence on the charts.
The MACD indicator shows a neutral perspective with the MA line intersecting with the signal line, which means a consolidation pattern.
Conclusion:
General Electric stock showed an uptrend in the past sessions and looked bullish. Analysts maintained a buy rating on the stock with growth perspectives in the upcoming sessions.
Technical levels:
Major support: $100
Major resistance: $130
Disclaimer:
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