Waiting on GE

General Electric (GE) shares stalled almost immediately after reporting better-than-expected earnings July 19, when it gained more than 4.5% on high volume after a powerful gap-higher open. The stock reached the $25 area at the highs of the day but was unable to build on the news-inspired momentum and then faded as July ended.

After a brief bounce in early August, the fade continued. Two weeks in, the entire July 19 surge had been given back. Support near the breakout gap area, which included the March highs, attracted little interest. Last week, the action took on a weaker tone as key trendline support that had previously linked the April/July lows gave way....141 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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