GE - still mid term bearish

Whilst the main market saw a day of minor chop, there was very significant weakness in General Electric (GE), which settled -3.9% at $23.43. There is no major support until around the $22.00 threshold, which is another 6% or so lower.


GE, daily

GE, monthly

Summary

Suffice to add... mid term weak, but I suspect GE will soon be concluding its mid term bearish trend from summer 2015.

The $22.00 threshold would arguably sync up with the sp'2474/61 gap zone.

Forward PE: 14s. Yield 3.9%.   On any basis... not expensive.
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If the $22s do hold, first upside target will be the $27s, which would be viable in spring 2018.
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