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Look for Shares of General Electric to Potentially Rebound after Yesterday's 7.50% Sell Off

By James Quinn

General Electric (NYSE:GE) traded in a range yesterday that spanned from a low of $5.60 to a high of $6.02. Yesterday, the shares fell 7.5%, which took the trading range below the 3-day low of $6.13 on volume of 128.9 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 Electrichas traded in a range of $5.60 to $13.26 and are now at $5.55. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.7%.

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