General Electric – Testing the strong resistance for the 3rd time!

General Electric (GE) had a gap up yesterday closed at $14.52 (+4.69%) after JPMorgan upgraded GE to Overweight from Neutral and raised the target price from $12 to $17. I will be keeping a close watch on this share over the next few weeks to see whether it can break the resistance of $14.57. Next immediate resistance is $16.44. I am planning to keep GE as long term value investment.

Stock’s background

  • 3 years’ historical high = $42.12
  • Current Price = $14.52 (35% of the historical high)

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