GE Aerospace Needs to Correct
After many years of struggle due to the Banking Debacle of 2008, this venerable old company is finally showing strength again. Spinning off divisions to focus on and drive growth in the key businesses was exactly what was needed.
GE Aerospace is over-speculated now. The run up from the heavy accumulation during the last half of 2023 is too steep to sustain. Smaller funds have been driving it upward since March, causing the more volatile action recently.
It had a small gap up on earnings this week but it still needs to correct, either down or sideways. It has the look of a stock with short-term topping risk at the moment, but extended sideways action could adjust out the overextended uptrend instead.
GE Aerospace is over-speculated now. The run up from the heavy accumulation during the last half of 2023 is too steep to sustain. Smaller funds have been driving it upward since March, causing the more volatile action recently. It had a small gap up on earnings this week but it still needs to correct, either down or sideways. It has the look of a stock with short-term topping risk at the moment, but extended sideways action could adjust out the overextended uptrend instead.
Martha Stokes, CMT
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