General Electric Is Approaching its 50 Day Moving Average

New York, May 11th (TradersHuddle.com) - General Electric Co. (NYSE:GE) ended the trading session at $19.09, near its 50 day moving average set at $19.47. General Electric's price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.

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 bellwether 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.

The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $18.74 and resistance at $19.95. These levels will be closely monitored, as they provide great insight into the latest price dynamics.

If traders want to establish a position in General Electric, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.

Note - Automated Content Created By TradersHuddle's Technical Scanner




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