GE stock surges toward 5-year high, as it breaks out of recent consolidation

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GE stock surges toward 5-year high, as it breaks out of recent consolidation
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Shares of General Electric Co. rallied 2.3% in afternoon trading Monday, to break out of a near three-week consolidation and to take it toward a five-year...

Shares of General Electric Co. GE rallied 2.3% in afternoon trading Monday, to break out of a near three-week consolidation and to take it toward a five-year closing high. The stock had closed in a relatively narrow range of $88.97 to $92.18 since it March 9, which was the day the aerospace and power company affirmed its full-year profit guidance at its investor day. With Monday’s rally to above the $93 level, the stock was on track for the highest close since Feb.

Shares of General Electric Co. GE rallied 2.3% in afternoon trading Monday, to break out of a near three-week consolidation and to take it toward a five-year closing high. The stock had closed in a relatively narrow range of $88.97 to $92.18 since it March 9, which was the day the aerospace and power company affirmed its full-year profit guidance at its investor day. With Monday’s rally to above the $93 level, the stock was on track for the highest close since Feb.

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