Trade of the Day: General Electric (GE)

Resistance is holding and the stock is dropping

By John Jagerson and Wade Hansen, Editors, SlingShot Trader

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Today, we’re opening a new bearish trade on General Electric (NYSE:GE).

The GE report last week was “less bad” than expected. However, resistance is holding and the stock is dropping.

Current management is facing vocal protests at the shareholder meeting and making promises about fixing the company after a tough year, which can’t bode well for GE’s stability.

We think the downtrend is likely to reassert itself and that the stock will break to new lows in the short term.

‘Buy to open’ the GE June 14 Put (GE180615P00014000) for a maximum price of $0.69.

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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/trade-of-the-day-general-electric-ge-6/.

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