General Electric Company (GE) is a diversified infrastructure and financial services company offering products ranging from aircraft engines, power generation, oil and gas production equipment to household appliances. The stock is currently trading around $26.93 at the middle to upper end of its 52 week range of $23.41-$28.68. The stock has been outperforming the market this year rallying a 6.61% year to date. GE is scheduled to report earnings before the opening bell tomorrow, and the stock is bullish today rising by $0.16 or 0.60% on the session ahead of the close.

Over the past 11 quarters GE has rallied on earnings day 5 times with an average move of 3.35%. The stock appears bullish on a chart going into the release having traded above or in the Ichimoku Cloud for the past few months since early April on the daily bars. Over the past 11 quarters GE has rallied from earnings to the nearest options expiration 5 times with an average move of 2.58%. The stock looks as if it could continue today’s trend and rip to the upside in today’s session. Investors are mainly looking to see how the company has been rebuilding the high-margin industrial operations. Both per-share earnings and revenue numbers are expected to be down from a year ago, setting a low bar for the company.

The options market is currently implying a move of around $0.55 or 2% in GE by this Friday’s close giving us a downside target of $28.93 and an upside target of $24.93.

Andrew Keene

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