Hello traders and investors, Baron Rothschild, an 18th-century British nobleman and member of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets." The question here is who is actually have the mentality and the strength to go against the majority. Why am i saying all these? Ok let's see the GE stock.
Fundamental analysis: On key earnings and sales metrics, GE stock earns a solid EPS. General Electric EPS for the quarter ending March 31, 2020 was $0.70, a 75% increase year-over-year. General Electric EPS for the twelve months ending March 31, 2020 was $-0.32, a 84.62% decline year-over-year. The EPS Rating shows a company's health on fundamental earnings, and its SMR Rating reflects sales growth. Revenue is seen shrinking 24% to $20.8 billion. Analysts on average expect GE earnings per share to decline 34% to 43 cents in 2020, then to rebound 52% to 65 cents in 2021.
GE posted total revenue of $20.524 billion, which represents a year-over-year decline of 8%. On an adjusted per-share basis, the company earned 5 cents. “The second quarter will be the first full quarter with pressure from COVID-19, and GE expects that its financial results will decline sequentially,” GE said.
As global travel screeched to a halt, General Electric’s aviation business saw revenue fall by 13% to $6.892 billion on a year-over-year basis in the quarter, with profit in the division tumbling 39% to $1.005 billion from $1.66 billion. Orders declined by 14%. The company’s power and renewable energy businesses also saw revenues decline in the quarter.
The company announced earlier this month that it was withdrawing its 2020 forecast. The company also said its cash and cash-equivalent holdings topped more than $47 billion along with a revolving debt facility of $15 billion to ride out the virus-induced downturn.
Technical analysis: 1.We have 5 Elliott waves completed on the weekly chart to the downside. 2.BIG Bullish divergence on the daily chart. 3.Descending triangle on the monthly chart plus DOUBLE BOTTOM WITH BULLISH DIVERGENCE on the monthly!
Possible long trade: ENTRY AT 6-6.5$ AREA STOP LOSS BELOW THE LOWS AT 4.5 AREA FIRST TARGET AT 9.5$ AREA SECOND TARGET AT 18-20$ AREA RISK/REWARD RATIO AT 5,44 AT LEAST!
THANK YOU FOR YOUR TIME HAPPY TO HELP
THE GREEK TRADER
Trade active
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Took partial profits today at new Highs of the Dow. Sold half position at 10.64 with 56,5% return! Let's go traders..!
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52% ON OUR POSITION AND WE CONTINUE! WELL DONE FOR THOSE WHO FOLLOWED. TAKING SOME PROFITS HERE ALSO AT 11.33$
HAPPY PROFITS EVERYONE AND THANKS FOR SUPPORT!
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Trade goes exactly as expected with a whooping 125% profit!!
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13.45 $ and midway to TP2 Ptience is a virtue guys and girls!!
I have made same same analysis exactly!!!
Greek fun of Elwave
13mileon
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good info, thanks!
TrendsOutlook
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All good but you missed the entry. If blood is on the streets you shouldn't sweat cents.
The_Greek_Trader
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@TrendsOutlook Thanks a lot for the comment...Actually I didn’t,the market has spoken...I rarely miss an entry of trade which is on my watchlist...
TrendsOutlook
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@The_Greek_Trader, didn't mean to be rude, you made me a pretty penny! Don't mind admitting when I'm wrong, does your trade still stand? My only point was sometimes it's better to worry about cents when the upside is much larger but you seem to have been right. Best of luck!
The_Greek_Trader
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@TrendsOutlook, No of course you were not rude my friend,it's the cold written words that made my answer different,actually thank you for your time to read and study my trade.
Everyone has a lot to learn every day including me don't get me wrong.
Yes trade still holds i will personally average down if i see a 5 $ share on this one.
Believe markets are totally irrational,they were pricing GE at 22$ when the debt was 388 billions and now they have 80 billions debt and they are pricing this stock at 7$ in an environment of lowest interest rates ever,it doesn't make sense my friend..
rogabi
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nice one, will follow it. thank you
The_Greek_Trader
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@rogabi, Great risk/reward trade for a changing company of 60 billion market cap!
Greek fun of Elwave