Beware this industrial giant that has overextended to the upside, says Carter Worth

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Beware this industrial giant that has overextended to the upside, says Carter Worth

From time to time, the designation “so good that it’s bad” is applicable to a stock, currency, commodity or index trading in an increasingly steep and uncorrected uptrend and far above long-term moving averages. Such is the case for GE Aerospace , by our work. From the April 4 tariff lows in the market to present, GE has roughly doubled the performance of its sector (industrials) and has tripled the performance of the S & P 500. At this point, we are sellers of GE. A simple judgment based on the simple table above and the simple chart below. An overbought condition, also known as “so good that it’s bad.” DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

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