GE is heading for its best close since May 6th. On Friday the stock dipped down to its post earnings breakout gap. During yesterday’s broad decline GE did not take out last week’s low. The stock is trading above the Friday high, SPY is nowhere near the Friday high. The 50D held the March lows, its holding the May lows now.
GE is a low risk buy with a stop close only nearby($9.59).
If GE can take out the April highs($10.55) on a closing basis it will have plenty of room to run.
We are long GE in most managed accounts.