Ongoing decline · week 6 · New York Stock Exchange
GE Aerospace drops 5.4%, wipes out its bounce and slips back under the 50-week average
Our view last week
After 6 weeks of decline, GE Aerospace stock is lifting its head: +4.1%, with 86% of weekly volume on the buy side, the highest reading of the past 4 weeks. Daily price action shows a touch in the 318 area and a 3% bounce back to the 20-day moving average, in the 326 area, and the 7-day high, in the 329 area, has already stalled it. The short's gain slips to 4.5%, from 8.3% a week ago. A technical analysis setup to follow for swing trading on US stocks.
This week's summary
Last week's bounce lasted a single week: GE Aerospace drops 5.4% and slips back under its 50-week moving average, in the 315 area, and under its 200-day average. Daily price action ends on a bearish engulfing and money flow is weakening. On the technical analysis, GE Aerospace stock stays inside its sell signal, with the short's gain back up to 9.6% from 4.5%. A swing trading setup to follow among US stocks at the 90-day low, in the 307 area, with earnings due on October 20.
IQS Phase
72
in tension
Signal Strength
45
decline starting to make lower lows
Sizing
REDUCED
Ranking
#52 / 175
US stocks
Trade P&L %
+9.64%
from signal to date, no stop loss
GE Aerospace weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 52nd among the 175 sell signals for US stocks in our ranking, with a signal strength of 45 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
GE belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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