General Electric ends the year 2011 with a record order backlog and a quarterly EPS a little bit higher than the consensus expectations, support by high demand for energetic facilities.
The conglomerate published its fourth-quarter 2011Operating Earnings at 4.1 billion dollar (+6%) , representing 0.39 cent per share (+11%). Turnover for the quarter was 38.0 billion (for 40 billion expected) and 147.3 billion for the year.
Technically, on daily datas, the share is close to its long-term resistance at 19.15 USD, widely up its 50 and 100 days moving averages respectively at 17.25 USD and 16.5 USD.
A running out of steam suggests a possible fall towards the short-term support at 17.8 USD. In this situation, we could imagine a technical rebound towards the long term resistance at 21.44 USD. In order to take advantage of a technical rebound, investors could buy the stock around 17.8 USD. We should cover the position with a stop loss under the short-term support.