General Electric – Steady Price Momentum

The Chart of the Day belongs to the international industrial machinery company General Electric (GE). I found the stock by sorting the Russell 3000 Index stocks first by the most frequent number of new highs in the last month and having a Trend Spotter buy signal, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker first signaled a buy on 10/21 the stock gained 17.58%.

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers. The Renewables segment provides various solutions for its customers through combining onshore and offshore wind, blade manufacturing, grid solutions, hydro, storage, hybrid renewables, and digital services offerings. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power, and mechanical aircraft systems; and provides aftermarket services. The Healthcare segment provides healthcare technologies to developed and emerging markets in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery and performance improvement solutions that are the building blocks of precision health to hospitals and medical facilities. The company also engages in the provision of various financial solutions; and management of run-off insurance operations, which provides life and health insurance and reinsurance products, as well as grid management software. General Electric Company was incorporated in 1892 and is headquartered in Boston, Massachusetts. (Source: Yahoo Finance)

Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide:

Disclosure: I/we have a beneficial long position in the shares of INSW either through stock ownership, options, or other derivatives.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations, as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio, it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and re-evaluate your stop losses at least on a weekly basis.

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