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Look for Shares of General Electric to Potentially Rebound after Yesterday's 9.56% Sell Off

By Amy Schwartz

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $8.15 to a high of $8.96. Yesterday, the shares fell 9.6%, which took the trading range below the 3-day low of $9.05 on volume of 147.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in General Electric. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of General Electric in search of a potential trend change.

In the past 52 weeks, General Electric share prices have been bracketed by a current low of $8.15 and a high of $20.75 and are now at $8.21. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.3% while the 200-day MA has slid 1.1%.

Keywords: rebounders General Electric

Ticker(s): GE