Remember General Electric (GE)?
From the late 1980s to the early 2000s, GE was the cat’s meow.
Everyone had heard of it. Its products were everywhere. CEO Jack Welch was one of the richest and most famous businessmen in the world.
And its stock was a superstar.
Then Jack Welch’s genius turned sour and the company got bloated.
And GE faded into obscurity forever.
What’s that? GE is still a company??
Who knew?
Yes, GE is still a company, but it’s completely divorced from its household ubiquity and Welch’s “maximize shareholder wealth” zealotry.
Now it’s a lean, mean, profit-making machine. Its Earnings Per Share numbers are soaring, and so has its stock recently:
Currently, GE is consolidating in a sideways channel.
If it breaks above $118, this new old stock could make a big run.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
