General Electric Company (NYSE:GE) stock finally exceeds the 21 dollar mark and has set a new high as momentum is sustained
General Electric Company (NYSE:GE) stock has exceeded the 21 dollar mark setting shares of the company at their highest, once again, since the year 2008. GE reached $21.44 just three minutes after 11 A.M. Eastern surpassing the high of $21.04 last observed during trading of November, 2008.
GE has been on what can be described no other than a blistering, bullish run since the beginning of this past December. GE has benefited from a combination of fundamental and technical factors. With lower high’s leading the way since last August, coupled with positive divergence found on MACD, the latest round of earnings have sealed the deal providing a solid dose of bullish momentum.
GE being committed to continued development and acquisition of renewable energy technologies does not hurt anything, either.
General Electric Company (GE) has a market value of $227,371,682,120 with 10,654,718,000 shares outstanding at the time of writing. Shares have continued bullish bias and momentum has yet to subside and consolidate despite some traders waiting for a retrace toward the January 21st price gap. On the weekly chart, GE is about $1.50 away from surpassing the 200 SMA at this moment which has not happened since April of 2008.