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General Electric Shows Upside: Here's My Target

Published 05/17/2018, 03:20 PM
Updated 05/14/2017, 06:45 AM

General Electric (NYSE:GE) is one of the best-performing S&P 500 stocks in the last two months. Up 22% since April 2018, the stock has investors cheering after the company beat earnings and put to rest any worry that it would cut the dividend. There may in fact be reason to cheer for more upside.

Price Target

GE just broke the neckline of an inverse head-and-shoulder pattern – an extremely bullish signal for General Electric and has a calculated price target of $17.50 attached. While it may pause around the $15 level for a week, or so, upside should resume quickly as the target could be hit in June.
General Electric Company

Latest comments

Been waiting for this bounce back. GE is greatly undervalued.....even at $15. As of today, I agree with the authors opinion that it's worth around $17.50. A year from now with more time to get things turned around, I wouldn't be surprised at all if we see it north of $20 by then.
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