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General Electric Set to Possibly Pullback After Yesterday's Rally of 4.32%

By David Diaz

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $8.58 to a high of $8.85. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $8.52 on volume of 19.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of General Electric have traded between a low of $6.40 and a high of $13.25 and are now at $8.81, which is 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.8%.

SmarTrend is tracking the current trend status for General Electric and will alert subscribers who have GE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders General Electric

Ticker(s): GE