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General Electric (GE) Breaks Through Support at $27.26

By David Diaz

Shares of General Electric (NYSE:GE) opened today below their pivot of $27.56 and have already reached the first level of support at $27.26. Investors may be interested in a cross of the next downside pivot targets of $27.10 and $26.64.

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 $27.21, 41% 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.

Potential upside of 23.6% exists for General Electric, based on a current level of $27.21 and analysts' average consensus price target of $33.62. General Electric shares should first meet resistance at the 200-day moving average (MA) of $28.65 and find additional resistance at the 50-day MA of $30.69.

SmarTrend recommended that its subscribers protect gains by selling shares of General Electric on January 20th, 2017 by issuing a Downtrend alert when the shares were trading at $30.60. Since that call, shares of General Electric have fallen 10.4%. 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