General Electric Stock Could Continue Higher

GE recently hit a five-year high

Deputy Editor
Aug 10, 2023 at 2:28 PM
facebook X logo linkedin


General Electric Co (NYSE:GE) has been steadily climbing on the charts this year, up 73.6% year-to-date. The stock recently hit a July 25 five-year high of $117.96, though it's pulled back slightly since then. Support at its 40-day moving average has guided the stock higher since the start of the year, and GE is now within one standard deviation of this trendline once again. 

According to Schaeffer's Senior Quantitative Analyst Rocky White, GE has run into this trendline three times in the past three years, after which the stock was higher two of the times, averaging a 3.5% gain. 

GE Aug10

That said, speculating on GE's next move with options could be a prudent play. The stock's Schaeffer's Volatility Index (SVI) of 23% stands higher than just 13% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment.  

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI