General Electric Company: Will GE Stock Price Escalate To $130?

• General Electric Company (NASDAQ: GE) has been soaring to new heights in the last 2 years.
• GE stock price jumped 106% in the last one year
• GE stock price is getting close to the resistance of $117.

General Electric Company’s (NASDAQ: GE) price prediction presents a bullish overview of the GE stock price that has been on the rise since 2023. The market began its bull run after dipping to the support level of $60. The bounce ignited a bull run, which drove the GE stock price to its current level. The market recorded a new 52-week high at $112.15.

At the time of writing, General Electric Company closed its trading session on Friday, 21st July 2023 at $110.33. This marked a drop of 0.82% over the prior day.

General Electric Company Looks Bullish On the Daily Timeframe

General Electric Company’s stock price looks bullish due to its steady climb since the start of the year 2023. The market glides above the 200 EMA while riding the waves of the 9 and 15 EMAs. The GE stock broke the resistance of $90, which has been the swing high since November 2021.

This fueled the bullish sentiments of the market, propelling the price by 22% to its current market price. Investors are not shying away from rising prices while buying dips. Should the price maintain its trajectory, the GE Stock price can be seen approaching the resistance level of $117 soon.

Will the GE Stock Sustain its Strong Bullish Momentum

On the 4-hour chart, the GE stock price can be seen traveling to the upside while taking support from an ascending trendline. Another observation reveals that the volume is declining as the price ascends to new highs. This creates a divergence, indicating a correction that might happen anytime.

The Bulls should get cautious if the prices start breaking the ascending trendline. It may cause a potential correction of 12% to local support of $94. Currently, there are no signs of reversal, and the price may continue to rise. The GE stock price may get a pullback to the ascending trendline at $106 before it continues its bullish trend.

RSI

The RSI indicator is currently at 52.33. It represents a mild bullish condition, where the market may move sideways. The price may move up aggressively if RSI goes above 70.

MACD

MACD has made a bullish crossover above the 0 line. This means the price may correct in the short term and fall aggressively if the indicator goes below the 0 line

200 EMA

On the 4-hour chart, the price is above the 200 EMA. This means that the market is bullish with the control of the buyers. The 200 EMA acts as a dynamic support, and the GE stock price may increase until it exceeds the 200 EMA.

Conclusion

General Electric Company’s (NASDAQ: GE) price prediction presents a bullish overview of the GE stock price that has been on the rise since 2023. The price has risen steadily, ascending to new heights in two years. This adds to the confidence of the bulls which fuels the current uptrend. However, some early signs show that a correction could be due. Therefore the investors should play it safe while maintaining a good risk management plan and partial profit booking.

Technical Levels 

• Support level: $102.81
• Resistance level: $117.78

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.