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Next Resistance Level for General Electric (GE) is $23.47
Feb 22, 2013 (SmarTrend(R) News Watch via COMTEX) --
General Electric (NYSE:GE) has opened bullishly above the pivot of $23.24 today and has reached the first level of resistance at $23.37. Analysts will be watching for a cross of the next upside pivot targets of $23.47 and $23.70.
General Electric (NYSE:GE) has potential upside of 8.3% based on a current price of $23.32 and analysts' consensus price target of $25.25. The stock should find initial support at its 50-day moving average (MA) of $21.84 and further support at its 200-day MA of $20.98.
In the past 52 weeks, shares of General Electric have traded between a low of $18.02 and a high of $23.75 and are now at $23.32, which is 29% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.59% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of General Electric on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.76. Since that recommendation, shares of General Electric have risen 6.9%. We continue to monitor GE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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