Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>General Electric Company (NYSE: GE) stock lost more than 1% in the August 8 trading session.&nbsp;</a> </li> 
 <li> <span>2</span> <a>If the price fails to sustain on higher levels, consolidation is possible, and GE stock might consolidate in the $111 to $120 range.&nbsp;</a> </li> 
 <li> <span>3</span> <a>At press time, GE stock traded above 50-day and 200-day exponential moving averages (EMA).&nbsp;</a> </li> 
</ul> 
<p>NYSE: GE stock lost approximately $1.15 of its trading price on the August 8 trading session; it opened trading at $114.39, lowering to $113.12 it hit a high of $114.83 and closed at $113.55 with an intraday trading volume of 3.799 Million.&nbsp;</p> 
<p>In the 52 weeks time frame, General Electric Company’s stock traded at $117.96, and its lowest trading price was $48.29. Despite intraday losses, GE’s stock price surged over 5% weekly and more than 91% yearly.</p> 
<p>As per estimation, the annual price target of GE stock is $127.75, which is around 12.50% higher than the current trading price. General Electric Company has a market capitalization of $123.585 Billion, and its average trading volume is 4.732 Million.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-general-motor-company-nyse-ge-stock-price-analysis-strong"><strong>General Motor Company (NYSE: GE) Stock Price Analysis</strong></h2> 
<p>GE stock is reflecting bullish solid momentum for the past seven months; after analyzing the technical aspects of General Electric stock, it is noted that the sudden decline in the price and increase in selling volume will not sustain for a longer time, and there are possible chances that GE stock might follow bullish momentum in coming sessions.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/D0ijgwcbulepi6dIHq4iiHTznjPs-TnVOYZH3e_qfrJbXjBJ2pTP9mzMZrp2OZoJf5bp9RvHj8Sxz6HO6_hPxzVf00Vy2TgURuqaJpvGbAqth0rEvRiS1cfNrZQbVjc66_q1B20Bz51q_k991E2KQA" alt="NYSE: GE Stock Lost $1.15 Intraday; Buyers Eyeing to Control"> 
  <figcaption class="wp-element-caption">
    Source: GE stock price chart from TradingView (monthly chart) 
  </figcaption> 
 </figure> 
</div> 
<p>Excluding August 8, buyers were more active, and the situation seems like some giant investor might have been active, which drove <a href="https://www.thecoinrepublic.com/2023/07/31/ge-stock-price-prediction-will-results-lead-to-profit-booking/" rel="noopener noreferrer nofollow">GE’s</a> price upwards. At press time, GE stock traded above 50-day and 200-day exponential moving averages (EMA).</p> 
<p>After analyzing the candlestick pattern, it is noted that if sellers continued their dominance over buyers in the next few sessions, then the price might fall and face immediate support of $111.93. Moreover, the price will not sustain for longer on lower levels, and a possible bounce might be seen by the end of this week.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/kGlCBS1Hxw35_W--mcYGMm7Hgfcy4tNLZpJWyPEIcotGYRUHP7b71sabapLM-8LWgM6PqDylkGXbXptrwVQ3nXBXzATIbVXZk5_pnSAg4VJS87e8HRv7MeoCJGLuTE_3pJZUmNfT8C2L8-DrA0arwQ" alt="NYSE: GE Stock Lost $1.15 Intraday; Buyers Eyeing to Control"> 
  <figcaption class="wp-element-caption">
    Source: GE stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>There is a good chance that <a href="https://www.thecoinrepublic.com/2023/07/15/general-electric-price-prediction-will-ge-stock-price-bag-more/" rel="noopener noreferrer nofollow">GE stock</a> price will bounce by the end of this week as buyers seem more aggressive and decisive and try hard to pull the price above a fresh 52-week high.</p> 
<p>If the price fails to sustain on higher levels, consolidation is possible, and GE stock might consolidate in the $111 to $120 range.</p> 
<h3 class="wp-block-heading" id="strong-general-electric-company-earnings-revenue-strong"><strong>General Electric Company Earnings &amp; Revenue</strong></h3> 
<p>For Q1 2023 estimated revenue of General Motor Company was $13.10 Billion, but the company reported $14.49 Billion, which is around 10.62% greater than the estimated revenue. Similarly, in Q2, the company reported 7.38% more revenue than estimated figures.&nbsp;</p> 
<p>The company is supposed to report $15.40 Billion in Q3 and $17.18 Billion in Q4 2023. Earnings per share (EPS) also followed the path of profitability and reported 96.64% in Q1 and 46.97% more EPS in Q2 2023.</p> 
<p>TradingView states 1.085 Billion General Electric shares are free-floating, and the remaining 3.801 Million shares are closely held by the company’s financial backers or the board of directors.</p> 
<p>From the total reported revenue of 2022, the company’s gross profit was 28%, followed by 10% of earnings before interest, taxes, depreciation, and amortization (EBITDA), 5% earnings before interest and taxes (EBIT), and net income of 0%.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Major Support: $111.93</p> 
<p>Major Resistance: $117.96</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>General Electric Company is one of the most profitable companies in its sector, and in the past few months, GE share is skyrocketing as a major number of buyers are showing their interest in buying. The sudden decline in GE shareprice is a short squeeze, and there are possibilities that by the end of this week, GE stock might cross the immediate resistance of $117.96.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer&nbsp;</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

NYSE: GE Stock Lost $1.15 Intraday; Buyers Eyeing to Control

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 9, 2023

Anticipated US Bitcoin ETF Approval by February: Insights from Galaxy Digital CEO Mike Novogratz

TikTok Star Bryce Hall Launches Capital University Podcast With Pompliano

Cardano (ADA) Unleashes Major Bitcoin (BTC) Integration on Mainnet

Chiliz and Ethereum Classic underperforming, Pomerdoge rising

Chainlink Price Prediction: Will LINK Start Uptrend?

New Fortress Energy Stock Price Prediction: What’s Next For NFE?

Join our free newsletter for daily crypto updates!