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General Electric (GE) Crosses Pivot Point Support at $13.34

By Amy Schwartz

General Electric (NYSE:GE) has opened bearishly below the pivot of $13.51 today and has reached the first level of support at $13.34. Analysts will be watching for a cross of the next downside pivot targets of $13.19 and $12.87.

Potential upside of 30.6% exists for General Electric, based on a current level of $13.52 and analysts' average consensus price target of $17.65. The stock should run into initial resistance at its 200-day moving average (MA) of $28.65 and subsequent resistance at its 50-day MA of $30.69.

In the past 52 weeks, General Electric share prices have been bracketed by a low of $12.73 and a high of $33.00 and are now at $13.52, 6% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of General Electric on January 18th, 2018 by issuing a Downtrend alert when the shares were trading at $17.12. Since that call, shares of General Electric have fallen 21.2%. 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