Enron comes to mind when I see a chart like this of a once great industrial. John Flannery newly appointed CEO has restructuring plans to spinoff and restructure Baker Hughes. Cut dividends by 4B, 2B in reductions and Flannery plans to focus GE on three core areas: aviation, healthcare and power.
Price has reached to 61.8% retrace from the '09 low which is usually a buying opportunity, however this is a wait and see if the street is going to keep pounding this company. I have hope that this once American giant can crawl back from the dead. We will keep an eye on it and watch for the right opportunity.
Price has reached to 61.8% retrace from the '09 low which is usually a buying opportunity, however this is a wait and see if the street is going to keep pounding this company. I have hope that this once American giant can crawl back from the dead. We will keep an eye on it and watch for the right opportunity.
The most Regretted trades are the ones not taken.
