It’s a ‘good news, bad news situation’ for General Electric, says chart watcher
GE is making sparks this week.
The stock has rallied 7% since Monday, reaching its highest level since May 2018, even as the rest of the market has come under pressure.
Its latest boost came from Morgan Stanley, which raised GE’s price target to $17 from $13 on Thursday. Analysts credited growth in its aviation unit as the reason for the increase.
Gina Sanchez, chief market strategist at Lido Advisors and CEO of Chantico Global, told CNBC’s “Trading Nation” she agrees that its aviation strength…