GE needs to clear this level for the turnaround to be real, chart suggests $GE (via TradingNation)
The onetime market dud has soared more than 40% in 2019, on pace for its first positive year in three and tracking for its best annual gain in two decades. It had spent the previous two years in free fall with investors unconvinced its turnaround efforts were gaining traction.
Despite its strong gains this year, the stock remains in a bear market having fallen more than 20% from a 52-week high last October. It is still 82% below its record set in 2000. "On the downside, I'm watching minor support around $9.75. I'd like to see that level remain intact at least to preserve the neutral bias of the chart but we really need that breakout to get excited about it," said Stockton.
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