GE - just another down day

Whilst the main market saw a day of minor chop, General Electric (GE) settled lower for a fourth consecutive day, -1.2% at $23.07, the lowest close since Sept'2015. Near term outlook is bearish to the $22.00 threshold. A monthly close <22 looks unlikely, after what is arguably a retrace/consolidation of hyper gains from 2009-16.


GE daily

GE monthly

Summary

Suffice to add... GE has been a fascinating stock to follow this year, having cooled from a Jan' high of $31.01 to today's low of $22.90.

GE is currently net lower for the 9th month of 10, having only seen a minor gain in February.

S/t outlook is bearish, by another 4-5% to around the $22.00 threshold, which has been important across the past few decades.

F' PE 14s, yield 4.1%... certainly 'reasonable', relative to a great many other things.
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*JPM downgraded the stock with a target of $20.00. That target is clearly possible by year end, but I'm guessing no, on the primary assumption there will be no bearish monthly index closes (sp<2420).