General Electric Closing in on May 2010 Price
General Electric (NYSE:GE) shares are acting like the little engine that could, its share price got within 6% of 52-week high, a feat not preformed since May of this year, but can the trend continue?
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General Electric Co (GE) shares have traded between $13.75 and $19.70 over the past 12 months. GE shares are now trading with a P/E Ratio of 17.1 and EPS of 0.91. General Electric closed the day at $18.27, down -0.27% or 5 cents and got as high as $18.49 today.
More on today's move via newsfuzion.com -- General Electric (NYSE:GE) stock is within striking distance of a new high. During today’s intraday trading session shares of GE have risen to the price level of $18.49 per share, one cent from matching the May 12th high of $18.50 which needs exceeded to confirm a continued bullish trend. The current intraday trend is relegated to consolidation just after 10:00 A.M. Eastern, as there has been only a six cent range since noon.
While many stocks are drifting with a sideways trend GE is an exception with a sustained bullish drive. Many company stocks do not look poised for much movement until 2011 arrives, or a world-class event begging attention arrives before then.
GE still needs to reach and surpass $18.50 before it can make a run at the current 12-month high of $19.70, after which a formidable price region of $21 will test the bulls as loads of resistance surrounds it with two different resistance points within mere cents above it.