General Electric Near the 50 Day

Published on Tuesday, 07 September 2010 07:36 Written by Danny Miller

New York, September 7th (TradersHuddle.com) - Shares of General Electric Co. (NYSE:GE) closed the trading day at $15.39 close to its 50 day moving average currently set at $15.25. General Electric's price action is just above this important support level translating into a trading opportunity.

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.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $14.31 and calculated resistance at $16.57. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on General Electric will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.