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General Electric Co. Market Analysis

12/27/2022 1:48 PM

Shares of General Electric Co., an American diversified corporation, are strengthening the global sideways correction, trading at 82.00.

Yesterday, some details about GE Healthcare, which is being spun off from the corporation, became known: it will be listed on the Nasdaq under the ticker GEHC, its preliminary valuation will be about 30.0B dollars, and the placement is scheduled for the first quarter of next year. CEO Peter Arduini said that the company's financial plans include achieving a medium-term adjusted margin of 20.0% through research and developing new drugs. As a result of the details that have come to light and an estimated end date for the split, set for January 3, analysts at Oppenheimer & Co. Inc. changed the rating of General Electric Co. to superior, with the target price of 104.0 dollars per share.

On January 25, the corporation's financial report will be published, which is planned to reflect the income of 21.6B dollars, the highest figure since January 2021. Earnings per share are expected to be 1.16 dollars, up from 0.36 dollars last quarter. A new dividend payment is scheduled for the same date and will amount to 0.08 dollars: investors' hopes for indexation will not come true, and the yield will be a minimum of 0.39%.

On the daily chart, the trading instrument is correcting in the local rising channel near the resistance line.

Technical indicators are in a sell signal state: fast EMAs of the Alligator indicator are kept below the signal line, and the AO oscillator histogram forms corrective bars in the sell zone.

Resistance levels: 84.20, 90.80. | Support levels: 79.70, 74.80.

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