General Electric (GE) Upgrade Alert, Watch for 3.8% Technical Downtrend Reversal

General Electric (NYSE:GE) upgraded to Outperform from Market Perform, $18 target, at Oppenheimer. The stock closed yesterday at $14.43 on volume of 69,984,800 shares, below average daily volume of 99,198,615.

General Electric is currently below its 50-day moving average of $15.47 and should find support at its 200-day moving average of $12.78.

SmarTrend is bearish on shares of GE and our subscribers received a Downtrend alert on October 27, 2009 at $15.00, which has returned 3.8% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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