Above Resistance - General Electric

Published on Wednesday, 08 February 2012 05:48 Written by TradersHuddle Wire

New York, February 8th (TradersHuddle.com) - Shares of General Electric Co. (NYSE:GE) closed the trading session at $19.18 just above calculated resistance at $19.05 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

General Electric Company (NYSE:GE) 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 stock was trading in a well defined range with support at $14.68 and resistance at $19.05, given that this range was broken traders will be closely monitoring the stock