Time to Salute General Electric?

NEW YORK (TheStreet) -- I know you've all heard the motto "What's good for the Generals is good for America." For many years that was true. A portfolio of the Generals -- General Electric(GE) , General Mills(GIS) , General Dynamics(GD) and General Motors(GM) pretty well covered the entire U.S. economy.

General Electric is still the largest U.S. conglomerate. Although lately the stock price has faltered a bit it still warrants a look. During the past month the stock fell about 1% as this hourly trading chart provided by Barchart shows:

But over the last six months while the market as measured by the Value Line Index is down about 3% while General Electric is up over 4%:

General Electric operates in six main divisions: energy and infrastructure, including equipment for wind turbines, gas and oil production and nuclear power; aviation parts and systems; health care, including medical devices manufacturing and disease and drug research; transportation, providing drive technology to many industries; home and business solutions, providing appliances, lighting and plant automations; and financial services through its GE Capital unit.

The company was founded in 1892 and is headquartered in Fairfield, Conn.

Barchart technical indicators:

24% Barchart technical buy signal

Trend Spotter buy signal

Although below its 20 day moving average it is above its 50 and 100 day moving average

1.30% off its monthly high, 6.00% off its 1 year high but up from its 1 year low by 40.10%

Relative Strength Index 50.40%

Barchart computes a technical support level at 19.49

Recently traded at 19.73 with a 50 day moving average of 19.45