The last two years weren't friendly to General Electric Company (NYSE:GE) investors, with the stock falling from north of $30 per share to below $10 per share and being removed from the prestigious Dow Jones Industrial Average.
So what's next for GE? It depends who you ask.
Chart Pro: Wait For Lower Prices
The stock's 100-day moving average is "quite a bit above where it is trading right now" and is unlikely to break above on the first try, as the stock's relative strength index is overbought to the same extent it was in 2016.
"I don't think we get back to the lows we saw back in December," he said. "But I do think long-term buyers will be able to buy [GE] at lower prices over the next month or so."
Trader: 'Long-Term Buyers From Here'
Vios Advisors managing director Michael Bapis offered a different take.
GE's stock is a "classic mispricing of a security," with the health care and aviation units alone worth more than $10 per share, he said. This view implies the rest of the company has a negative valuation, which is inaccurate, Bapis said.
"If you look at the valuations and the fundamentals, they point to straight up."
Although this doesn't necessarily translate to the stock similarly shooting "straight up," investors should be long-term buyers of the stock, in Bapis' view.
Related Links:
Cramer: Don't Rush To Buy GE After Analyst Upgrades
What's Next For General Electric's Stock? Here's A Technical Take
Photo by Jud McCranie/Wikimedia.
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