General Electric Company (NYSE:GE) stock captures the 20 dollar mark as recent earnings are received positively among investors
General Electric Company (NYSE:GE) stock has captured the 20 dollar mark to begin a new week of trading. GE has not been trading above 20 dollars per share since the later portion of the year 2009. Shares of the company gaped north on earnings posted this past Friday, a complete difference from overall past track record throughout 2010 of shares encountering resistance upon the announcement of earnings.
While overall strength of momentum today has not been as strong as it were on Friday, overall bias is positive and so far shares of GE have reached $20.12 at 20 minutes past noon, Eastern. The new high was helped by the largest spike of volume shareholders have seen for the entire day so far, with 2.6 million shares exchanging hands 11 minutes prior to noon which assisted shares out of a half hour of consolidation.
$21.04 is the next price target for investors of GE to look out for confirmation of sustained bullish momentum, this price target was last reached on the first week of November in 2009. Shares are currently situated between the 50 & 200 SMA’s on the weekly chart. General Electric Company (GE) has a market value of $213,306,388,888.20 at the time of writing, and there remains 10,654,718,000 shares outstanding.