• Return to Headlines

General Electric (GE) Breaks Through Resistance at $28.99

By David Diaz

General Electric (NYSE:GE) has opened bullishly above the pivot of $28.85 today and has reached the first level of resistance at $28.99. Should the shares continue to rise, the resistance pivots of $29.14 and $29.43 will be of interest.

Potential upside of 10.8% exists for General Electric, based on a current level of $29.05 and analysts' average consensus price target of $32.20. The stock should find resistance at its 50-day moving average (MA) of $30.69, as well as support at its 200-day MA of $28.65.

In the past 52 weeks, General Electric share prices have been bracketed by a low of $19.37 and a high of $33.00 and are now at $29.05, 50% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.32% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of General Electric on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $30.47. Since that call, shares of General Electric have fallen 5.3%. 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