Trading Idea - Entry Levels for General Electric

Published on Tuesday, 09 February 2010 07:50 Written by Danny Miller

New York, Feb 9^th (TradersHuddle.com) - Shares of General Electric Co. (NYSE:GE) are trading very close to calculated support at $15.25 with current price action closing at just $15.6 places the stock price near levels where traders will start paying attention.

General Electric Company is a diversified technology, media, and financial services company. The diversified corporation offers products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content, and industrial products. General Electric conducts operations globally and its consider a belweather of the U.S. economy as it participates in so many segments of the economy. GE was founded in 1892 and is based in Fairfield, Connecticut.

General Electric's current stock range is defined by current calculated support defined at $15.25 and by the resistance level at $17.03, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to General Electric's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $17.03 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.