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General Electric in Anticipation of Poor Quarterly Reports

10/19/2022 2:50 PM

Global sideways correction in the papers of the American diversified corporation General Electric Co. strengthens, and shares are trading at 72.02.

On October 25, the issuer will publish a quarterly report, and analysts will closely analyze the information received on this matter. So, reports that the corporation plans to close its office space in Boston due to ongoing preparations for the division into three independent companies were met with a rather restrained response. In turn, Bank of America experts maintain their target price of 105.00 but believe this quarter's profit will not be high. Management is gearing up for a split, and a General Electric Healthcare spin-off planned for the first week of January will add to the burden on the company.

Preliminary estimates suggest revenue could be 18.55B dollars, lower than the original estimate of 18.85B, and EPS to drop to 0.50 dollars from 0.78 dollars a quarter earlier.

The asset continues to correct within the global downward channel, approaching the resistance line and getting ready for a reversal.

Technical indicators are in a state of uncertainty and do not give a clear signal. The fluctuation range of the EMA of the Alligator indicator remains rather narrow, and the histogram of the AO oscillator, being in the sell zone, is in no hurry to cross the transition level.

Resistance levels: 73.30, 81.20. | Support levels: 67.50, 62.00.

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