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General Electric Set to Possibly Pullback After Yesterday's Rally of 8.33%

By Nick Russo

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $7.51 to a high of $7.95. Yesterday, the shares gained 8.3%, which took the trading range above the 3-day high of $6.66 on volume of 63.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, General Electric has traded in a range of $5.90 to $13.26 and is now at $8.15, 38% above that low. The 200-day and 50-day moving averages have moved 0.47% lower and 2.77% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of General Electric on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $11.83. Since that call, shares of General Electric have fallen 36.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders General Electric

Ticker(s): GE