- GE had dropped by 14% last week from Tuesday to Thursday experiencing its largest fall-off in the past 11 months. While on Friday, GE rebounded and added 2.53% and closed the trading session at $12.58.
- And looking to recover some of last week's losses, GE is up another 1.2% to $12.71/share in premarket trade today. And last week, Deutsche Bank raised its price target on GE to $14 from $13.
- GE is trimming its losses to get back higher after testing the lower boundary of the upward sloping channel. And it's also clear the 100 EMA has been so important over the last period acting as a strong support.
- Traders may consider trading long positions as long as the price remains well above $12 so we can see prices at $13.40 as the next bullish objective to target.
- The bullish break of this resistance would revive more bullish momentum, So the he bullish movement could then continue towards the next resistance located at $14.50.