Below is an updated Altimeter for General Electric (GE).
GE is at the 103 level in the Altimeter. The last time the stock was at the 103 level on January 15, 2015, GE bottomed at $23.50 and increased to the high of $32.88 by July 11, 2016. The negative news and selling of assets hasn’t stopped for GE, so we’re cautious on the stock overall. However, in our last posting on GE, we said the following:
“We wouldn’t consider the idea of buying GE until it does (a minimum of) one of the following:
Since that March 2018 posting, GE has cut the dividend, dropped from the DJIA, and experienced high levels of relative trading volume. Although we’d prefer an elimination of the dividend, which we think is on the horizon, speculators (those willing to risk a small amount of the portfolio as a total loss) might take interest in GE.
Assuming that the dividend remains, the speculative upside targets would be $17.22 and $22.44 and downside is $5.27.