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Watch for General Electric to Potentially Pullback After Gaining 1.56% Yesterday

By Shiri Gupta

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $14.69 to a high of $14.96. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $14.80 on volume of 20.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

General Electric share prices have moved between a 52-week high of $33.00 and a 52-week low of $12.73 and are now trading 17% above that low price at $14.93 per share. The 200-day and 50-day moving averages have moved 0.23% higher and 0.32% higher over the past week, respectively.

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