The following is technical analysis of General Electric ( GE ) stock for March 23, 2009.GE Support & Resistance Levels - March 23, 2009
Resistance Levels: $10.79, $11.35
Support Levels: $9.32, $9.00, $8.00, $6.65
GE Stock failed at the 50 day moving average, a key level stock market technicians use to gauge strength and weakness in a stock. General Electric is now testing the 10 day moving average and so far it has held. In the short term, it is very important that GE holds the $9 level or it will face going back to the next major support level of $8. I'd like to see GE trend higher from here along with the 10 day moving average. This would show me that every day there is some nice buying going on in the stock. On the upside, a break through $11.35 is what I want to see before I buy again. It's going to take a lot to break out of this current downtrend....GE stock is not going anywhere fast after this recent bounce. You may even see a retest of under $6...if that level holds, GE will be a screaming buy once again! For More Technical Analysis - Go Here
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