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TheStreet Open House

Time to Salute General Electric?

Stocks in this article: GESIUTXMMM

NEW YORK ( TheStreet) -- I know you've all heard the motto "What's good for the Generals is good for America." For many years that was true. A portfolio of the Generals -- General Electric (GE), General Mills (GIS), General Dynamics (GD) and General Motors (GM) pretty well covered the entire U.S. economy.

General Electric is still the largest U.S. conglomerate. Although lately the stock price has faltered a bit it still warrants a look. During the past month the stock fell about 1% as this hourly trading chart provided by Barchart shows:

But over the last six months while the market as measured by the Value Line Index is down about 3% while General Electric is up over 4%:

General Electric operates in six main divisions: energy and infrastructure, including equipment for wind turbines, gas and oil production and nuclear power; aviation parts and systems; health care, including medical devices manufacturing and disease and drug research; transportation, providing drive technology to many industries; home and business solutions, providing appliances, lighting and plant automations; and financial services through its GE Capital unit.

The company was founded in 1892 and is headquartered in Fairfield, Conn.

Barchart technical indicators:

  • 24% Barchart technical buy signal
  • Trend Spotter buy signal
  • Although below its 20 day moving average it is above its 50 and 100 day moving average
  • 1.30% off its monthly high, 6.00% off its 1 year high but up from its 1 year low by 40.10%
  • Relative Strength Index 50.40%
  • Barchart computes a technical support level at 19.49
  • Recently traded at 19.73 with a 50 day moving average of 19.45
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