We’ve been tracking the long and painful slide in the shares of General Electric for quite some time. In a January 2018 posting titled “The Rise and Fall of GE,” when GE was trading at $16.17, we said the following of General Electric:
“From what we can tell, the price target at the ascending $10.97 level is a lock (approximately $12.18). This would match the decline that was experienced by GE in the period from 2000-2002. The question becomes, will GE match the decline of 2007-2009, on a percentage basis. If so, then GE would decline to as low as $5.27.”
So far, the decline has been consistent with expectations. However, now is the time to consider the upside resistance targets. The above chart lays bare the expectations for an upside move. The upside targets are:
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$19.82
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$24.28
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$28.60
Interestingly, GE could achieve all of the designated upside resistance targets and still be in a declining trend. The year 2019 could be forgiving to GE, but the stock price is not out of the woods just yet.
When is GE in the clear? When the stock appreciably increases above $32.93.