General Electric weekly uptrend opportunity based On 1.00 Lot Calculation:
- General Electric is an American multinational technology and financial services conglomerate. For more than 125 years, GE has long been a leader in product and services related to energy production, Healthcare, Renewable Energy including solar power plants, wind and hydro turbines and generators (more than 25% of total installed worldwide) and it is one of two biggest producers of aircraft engines in the world together with Rolls Royce.
- GE investor day presentation is scheduled to take place on March 10. CEO Larry Culp and the leadership team of the company are scheduled to give GE's annual investor outlook. The management will go into more detail on the turnaround plans at GE Power and GE Renewable.
- The company reported a revenue that beat analyst expectations while its profits fell short of estimates as the industrial giant tried to manage coronavirus pandemic challenges. The company’s Q4 performance was driven mainly by a rise in orders in its power and renewable energy businesses. The renewable energy segment reported $6.29 billion in orders, up 34% from a year earlier.
- General Electric is partnering with two other US energy companies (New Fortress and Long Ridge Energy) to build the first power plant in the U.S. which will exclusively use hydrogen in the fuel. Last year GE and German energy company Uniper agreed to make a detailed plan that will involve hydrogen upgrades to all GE gas turbines and compressors at the Uniper’s gas power plants and storage facilities across Europe.
- Economists believe that the upcoming U.S. economic stimulus package and the improvements regarding coronavirus crises will provide support to the company’s business. In addition, General Electric’s performance could be expected to improve in the next several years which may be bullish for the stock.
- Morgan Stanley upgraded the GE’s shares and changed its price target to $17.
General Electric, March 5, 2021
Current Price: 13.40
|
General Electric |
Weekly |
|
Trend direction |
|
|
19.00 |
|
|
17.34 |
|
|
15.54 |
|
|
11.30 |
|
|
9.65 |
|
|
8.21 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
General Electric |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
5,600.00 |
3,940.00 |
2,140.00 |
-2,100.00 |
-3,750.00 |
-5,190.00 |
|
Profit or loss in €** |
4,691.85 |
3,301.05 |
1,792.96 |
-1,759.44 |
-3,141.86 |
-4,348.34 |
|
Profit or loss in £** |
4,045.83 |
2,846.53 |
1,546.09 |
-1,517.19 |
-2,709.26 |
-3,749.62 |
|
Profit or loss in C$** |
7,102.59 |
4,997.18 |
2,714.20 |
-2,663.47 |
-4,756.20 |
-6,582.58 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 12:05 (GMT) 05/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more detail