GE Aerospace: #PowerStocks Series Pick Of The Week (September 2024)

Did you watch the Formula 1 (F1) race in Singapore on TV? In the weeks leading up to the race in Singapore, F1 theme events and carnivals popped out all around the island. Meet-and-greet sessions were organized, race simulators gave the public a taste of being an F1 racer, and stalls selling F1 merchandise excited many. If you are a fan of Lando Norris or the McLaren team, you are grinning from ear to ear. Congrats to Lando Norris and the McLaren team for clinching the top spot in the Singapore Grand Prix! Was our last week's stock pick, ONEOK (OKE), as fast and furious as Lando Norris? Let's find out.

Review Of Last Week's Pick Of The Week

ONEOK (OKE) was last week's #PowerStocks pick. It is heavily involved in the gathering, processing, fractionating, transporting, storing, and marketing of natural gas. Just as anticipated, the share price of ONEOK shot up fast and hard last week, and 2.53% on Mon alone! If you'd bought the shares of ONEOK, where could you consider selling them for a tidy profit? I had shared this in my Telegram Channel.

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Why Is Swing Trading GE Aerospace (GE) Worth It?

Source: geaerospace.com/investor-relations/events-reports

GE Aerospace belongs to the Industrials sector and is integral to the aviation industry. Although this company isn't in the limelight, market participants love its stock. Year-to-date, the share price of GE Aerospace has shot up by nearly 85%! Compared to the S&P 500, GE Aerospace's shares have outperformed by 3.2x in the last 3 months alone! In addition, its shares have been wildly explosive, exploding upwards 13 times and as much as 37.7% in just 11 months! I think that its shares could pull back soon. So, what's the game plan? Continue reading to get the details. P.S. What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short amount of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs GE Aerospace (GE)

Let's begin analyzing the share performance of GE Aerospace. After moving sideways from mid-July to early 2024, the bulls returned, sending GE Aerospace's share price higher. Fresh uptrends are highly coveted by traders because of the immense potential profit ahead. How does its share performance compare against that of the S&P 500? In the last 3 months, the S&P 500 provided a solid return of 4.3%. While 4.3% sounds great, how does a return of 14.1% sound? That's the return provided by the shares of GE Aerospace in the last 3 months! Are you left in awe of GE Aerospace's 3.2x outperformance?

How Explosive Is GE Aerospace (GE)?

Have the shares of GE Aerospace been exploding in price consistently to make your time and money worthwhile? To save you time, I've marked the explosive upmoves. In the past 11 months, the share price of GE Aerospace has exploded 13 times! This is mind-blowing for a $203b company, especially when you measure the upmoves of its shares - between 5.2% and 37.7%! Such explosivity means that you stand to make a decent amount of money in a short amount of time. But does this mean you should buy its shares for an explosive move now?

Key Price Levels

To discover whether the time to buy its shares for an explosive swing trade is here, let's uncover its key price levels. What are key price levels? They are support and resistance zones where price tends to bounce off at. Did you identify a support zone around $174? Because the share price of GE Aerospace is above its support zone, it's not a good idea to buy its shares now. It would be better to wait for it to pull back to around $174 and bounce before snapping its shares for an explosive swing trade. And that's precisely what I'll be doing. As always, please set a stop loss and size your position well. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

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The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!