GE is making sparks this week.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Gina Sanchez, chief market strategist at Lido Advisors and CEO of Chantico Global, told CNBC's "Trading Nation" she agrees that its aviation strength is key.<\/p>\n
"If aviation doesn't take them up and out of this hole, power is probably not going to do it, and renewables is just too small," she said Thursday.<\/p>\n
However, that recovery may take some time, she conceded, noting that "that part of the global economy will likely be the last to rebound."<\/p>\n
The charts, meanwhile, present a mixed picture for GE, according to Matt Maley, chief market strategist at Miller Tabak.<\/p>\n
"There's kind of a good news, bad news situation," Maley said during the same interview. "The bad news is that the stock is very, very overbought. It's had this great run that you mentioned. If you look at its weekly [relative strength] chart, it's the most overbought it's been in several years. \u2026 Obviously, the overall market is coming in, so this stock is coming in as well, but it was due for a pullback anyway."<\/p>\n