Up 10% In A Month, Will General Electric Stock See More Gains?

GE: General Electric logo
General Electric

General Electric stock (NYSE: GE) has seen a rise of 10% in a month, while it’s down 5% in the last twelve months, outperforming the broader S&P500, down 1% and 17%, respectively. The recent rise can be attributed to positive investor sentiment around the spinoff of GE Healthcare earlier this month. GE Healthcare is now listed on NASDAQ (GEHC), and GE owns close to a 20% stake in the healthcare arm. GE has released preliminary Q4 results for its healthcare business today, with sales rising 7% y-o-y to $4.9 billion and 2023 revenue growth projected to be between 5 and 7%. GE will split off its energy business next year, unlocking more shareholder value.

Now that GE stock has seen a rise of 10% in a month, will it continue its upward trajectory, or is a fall imminent? Going by historical performance, there is a higher chance of a rise for GE stock over the next month. A move of 10% in a month for GE has occurred 271 times in the past ten years. Of those, 148 instances resulted in GE stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 148 out of 271, or about a 55% chance of a rise in GE stock over the next month. See our analysis of General Electric Stock Chance of Rise for more details.

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Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using the last ten years’ data

  • After moving 10% or more over five days, the stock rose on 48% of the occasions in the next five days.
  • After moving 14% or more over ten days, the stock rose on 66% of the occasions in the next ten days.
  • After moving 10% or more over a twenty-one-day period, the stock rose on 55% of the occasions in the next twenty-one days.

This pattern suggests a higher chance of a rise in GE stock over the next ten and twenty-one days.

General Electric (GE) Return (Recent) Comparison With Peers

  • Five-Day Return: GE highest at 10.2%; LMT lowest at -5.7%
  • Ten-Day Return: GE highest at 13.8%; LMT lowest at -4,2%
  • Twenty-One Day Return: GE highest at 9.6%; LMT lowest at -4.6%

While GE stock looks like it has more room for growth, it is helpful to see how General Electric’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.

Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised at how counter-intuitive the stock valuation is for Honeywell vs. Amkor Technology.

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