Solid News

Global sideways correction in the American diversified corporation General Electric Co. papers strengthens, and the shares are traded around 73.00.

At the international technology forum CIGRE 2022, GE Renewable Energy Grid Solutions presented a prototype of the world's first 420 kV substation circuit breaker, which can be used at the highest voltage levels, and has no analogs yet. Another positive moment can be considered the conclusion of a deal between GE Renewable Energy and Green Power Investment Corp. for the supply of turbines for the Fukaura power plant in Japan, which also includes a ten-year service agreement.

The corporate financial report will be released on October 27, and preliminary estimates suggest that revenue could be 18.85B dollars, which is significantly higher than 17.88B dollars in the previous period, but despite this, earnings per share are expected at 0.56 dollars, which is less than 0.78 dollars in the second quarter.

The trading instrument is being corrected within the global downward channel, forming a possible Head and shoulders reversal pattern.

Technical indicators are uncertain and do not give a clear signal: the fluctuation range of the Alligator EMA indicator remains rather narrow, and the AO oscillator histogram, having moved into the sell zone, does not deepen.

Resistance levels: 79.30, 93.00. | Support levels: 71.10, 60.50.