General Electric Co. (GE) is the "Stock of the Day" at Real Money on Monday . It seems that a sell-side analyst has changed his tune about the company. Stephen Tusa, an industrial goods sector analyst with J.P. Morgan (JPM) , has lifted this bearish opinion on GE. I will leave others to dig through his report and fundamental reasons but we have been positive on the stock for several months. Let's see if there's anything new on the charts.
In this daily bar chart of GE, below, we can see that prices have reacted lower in the past month as global pandemic worries have prompted selling on the expectation of slowing growth. GE tested and so far held above the rising 200-day moving average line. GE gapped below the cresting/declining 50-day moving average line in the past week or so.
The daily On-Balance-Volume (OBV) line shows a peak in late November and weakness to date. The OBV line diverged from the price action until the latter part of February.
The Moving Average Convergence Divergence (MACD) oscillator shows a peak in November and just moved below the zero line in the past week for an outright sell signal.