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General Electric (GE) Approaches New Downside Target of $12.31

By Nick Russo

Shares of General Electric (NYSE:GE) opened today below their pivot of $12.63 and have already reached the first level of support at $12.51. Investors may be interested in a cross of the next downside pivot targets of $12.31 and $11.99.

In the past 52 weeks, General Electric share prices have been bracketed by a low of $11.94 and a high of $25.21 and are now at $12.43, 4% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.6%.

General Electric (NYSE:GE) has potential upside of 29.6% based on a current price of $12.43 and analysts' consensus price target of $16.10. General Electric shares should first meet resistance at the 50-day moving average (MA) of $13.02 and find additional resistance at the 200-day MA of $14.60.

SmarTrend recommended that its subscribers protect gains by selling shares of General Electric on June 5th, 2018 by issuing a Downtrend alert when the shares were trading at $13.73. Since that call, shares of General Electric have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts General Electric

Ticker(s): GE