4 Trade Ideas for General Electric: Bonus Idea

• Posted by Greg Harmon
• on August 7th, 2023

Here is your Bonus Idea with links to the full Top Ten:

General Electric, $GE, comes into the week holding at support which was prior resistance. It is also holding over the 20 day SMA. The trend has been higher since October and as long as these support levels hold, and even a drop and hold at the 50 day SMA, nothing changes there. The RSI is holding in the bullish zone with the MACD dropping but positive. There is support at 112 and 110 then 107 and 104.50. Resistance higher is at 117.40 and then back to 2017 to find it at 120 and 123 then 137.50 and 142 before 145 and 150.50. Short interest is low at 1.3%. The stock pays a dividend with an annual yield of just 0.28% and has traded ex-dividend since July 10th.

The company is expected to report earnings next on October 23rd. The August options chain shows biggest open interest at the 110 and 105 then 108 strikes on the put side. On the call side it is biggest at 115 then 110 and 105. In the September chain it builds from 105 to a peak at 65 on the put side and is spread from 95 to 120, biggest at 120 and 105 on the call side. The December chain is next, and it has biggest open interest at the 80 put strike and the 110 call, but this chain is just getting started.

General Electric, Ticker: $GE

Trade Idea 1: Buy the stock on a move over 114 with a stop at 110.

Trade Idea 2: Buy the stock on a move over 114 and add a September 110/105 Put Spread ($1.19) while selling the September 120 Calls ($1.16).

Trade Idea 3: Buy the September/December 120 Call Calendar ($3.64) while selling the September 105 Put (92 cents).

Trade Idea 4: Buy the December 105/115/125 Call Spread Risk Reversal (82 cents).

Premium Content

The Best

The Rest Premium

Free Content

The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

After reviewing over 1,000 charts, I have found some good setups for the week.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus