GE needs to clear this level for the turnaround to be real, chart suggests

GE needs to clear this level for the turnaround to be real, chart suggests $GE (via TradingNation)

The onetime market dud has soared more than 40% in 2019, on pace for its first positive year in three and tracking for its best annual gain in two decades. It had spent the previous two years in free fall with investors unconvinced its turnaround efforts were gaining traction.

Despite its strong gains this year, the stock remains in a bear market having fallen more than 20% from a 52-week high last October. It is still 82% below its record set in 2000. "On the downside, I'm watching minor support around $9.75. I'd like to see that level remain intact at least to preserve the neutral bias of the chart but we really need that breakout to get excited about it," said Stockton.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Everything you need to know about the celebrity and dermatologist-loved Clear and Brilliant laserBeloved by celebrities (hi, Drew Barrymore and Christie Brinkley!), dermatologists and patients alike, the laser boasts a myriad of beauty benefits.
Read more »

RS Charts: Ed Sheeran Is Number One Again on Top 200 Albums ChartEd Sheeran is Number One again on our Top 200 Albums Chart, with Beyoncé and Nas debuting in the Top Ten RSCharts RS_Charts
Read more »

I Just Found Out Billie Eilish's Real Name And I Am Truly Freaking ShockedI just found out Billie Eilish's real name and I am truly freaking shocked
Read more »

Under Armour’s Slow Turnaround ContinuesThe ath-leisure company improved on both top and bottom lines last quarter. But shares sank after missing analyst expectations.
Read more »

NLE Choppa Hits No. 1 On Emerging Artists Chart, Thanks to 'Shotta Flow'Memphis-based rapper NLE Choppa leads Billboard’s Emerging Artists chart (dated Aug. 3) for the first time, jumping 6-1 to become the top emerging act in the U.S.
Read more »

Tomato Coup: Maren Morris Is First Woman to Top Country Radio Chart in 17 MonthsTime flies when female artists aren’t catching much of a break. Maren Morris has reached No. 1 on Billboard’s country airplay chart with the title song from her second album, “Gir…
Read more »