Current trend

Shares of General Electric Co., an American diversified corporation, are trading in an uptrend just above 178.00.

Analysts at Bank of America Securities confirmed the stock's "Buy" rating and a target price of 180.0 dollars per share. Experts believe that, despite the drop in engine supplies, the company can increase revenue in the third quarter by 7.0% and improve margins by 320.0 basis points. The forecast for earnings per share (EPS) was revised from 3.75–4.15 dollars to 3.95–4.20 dollars, and for operating profit to 6.5–6.8 billion dollars.

In General Electric Co.'s financial report for the third quarter, analysts expect revenue of 9.3 billion dollars, up from 8.22 billion dollars previously, and earnings per share (EPS) could reach 1.11 dollars, which is still below 1.2 dollars in the previous quarter. In addition, the Board of Directors has already approved new dividends of 0.28 dollars per share, up from 0.08 dollars per share before the company split. The payment is scheduled for October 25, and the registry will be closed on September 26.

Support and resistance

On the D1 chart, the asset is rising and is still within a wide ascending channel with boundaries of 190.00–160.00.

The technical indicators have reversed around again and have already issued a new buy signal. The fast EMAs of the Alligator indicator crossed the signal line from the bottom up, and the AO histogram, moving into the purchase zone, forms new ascending bars.

Support levels: 175.00, 163.40.

Resistance levels: 180.00, 190.00.

Trading tips

If the asset continues to grow and the price consolidates above the resistance level of 180.00, long positions with a target of 190.00 and a stop-loss of 175.00 may be opened. Implementation period: 7 days and more.

In case of a reversal and continuation of the local decline of the asset, as well as price consolidation below the support level of 175.00, one can open short positions with a target of 163.40 and a stop-loss of 180.00.