. GENERAL ELECTRIC Technical Analysis - 16 September 2022

GENERAL ELECTRIC Technical Analysis – 16 September 2022

16 Sep 2022

GENERAL ELECTRIC: NEWS & TECHNICAL. ANALYSIS

General Electric deliveries still affected by supply-chain issues

General Electric (NYSE:GE) Co is still grappling with supply-chain bottlenecks which have made it tougher to deliver products to customers on time, Chief Financial Officer Carolina Dybeck Happe said on Thursday.

All the businesses of the Boston-based industrial conglomerate have been facing challenges in satisfying customer demand due to shortages of parts, labor and raw materials.

In the second quarter, supply-chain and macroeconomic pressures shaved off 5 percentage points from GE’s revenue.

Dybeck Happe told a Morgan Stanley (NYSE:MS) conference those factors continue to impact output of its jet engines and healthcare products.

As a result, she said the company’s cash flow is expected to be under pressure. She expects GE’s free cash flow in the quarter through September to be either in line or slightly better than the June quarter.

The company reported $162 million in free cash flow in the second quarter.

GE’s shares were down 3.9% at $66.2 in extended trading.

To be sure, manufacturers of all shapes and sizes have been struggling to produce enough for current demand and restock inventory after the COVID-19 pandemic fractured global supply chains. The pain, however, is more acute in the aerospace industry.

GENERAL ELECTRIC Technical Analysis: Daily Chart

GENERAL ELECTRIC Technical Analysis

In the weekly charts, GENERAL ELECTRIC was trading in down channel. GENERAL ELECTRIC is currently trading below all SMA.

RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 64.41 & the resistance level is at 67.86.GENERAL ELECTRIC was trading in down channel before there is breakout downside.

How to Trade GENERAL ELECTRIC this Week:

GENERAL ELECTRIC will follow the downtrend until their trend reversal. So, remain bearish on GENERAL ELECTRIC.

TRADE SUGGESTION- SELL AT 65.94, TAKE PROFIT AT 64.41 AND STOP LOSS AT 67.86