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Look for Shares of General Electric to Potentially Rebound after Yesterday's 4.54% Sell Off

By Shiri Gupta

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $14.34 to a high of $14.74. Yesterday, the shares fell 4.5%, which took the trading range below the 3-day low of $14.41 on volume of 59.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, General Electric has traded in a range of $13.95 to $33.00 and is now at $14.42, 3% above that low. 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 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 11.8%. 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