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Trade of the Day: General Electric (GE)

GE looks like it will reach the $26 level


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General Electric
(NYSE:GE) was one of the greatest stocks of the late 1990s, rising from $5 to $45 in the last half of that decade alone as Jack Welch bolted a huge media and finance business on top of the industrial giant he had inherited. But then the tech bubble burst, followed by the finance bubble, and shares were back to $5 again in 2009. The way back has been slow and painful, but it is gathering steam as the company’s managers unwrap the conglomeration and return the company to its roots. Shares should climb to at least the downtrend marked by the red line, which would be around $26. Shares were up last week, though a touch soft yesterday.

I’m recommending a buy at current levels for a quick spike up to $26.

InvestorPlace advisor Jon Markman operates the investment firm Markman Capital Insight. He also writes a daily swing trading newsletter, Trader’s Advantage which aims to capture profits of 15% to 40% and often as much at 100% to 200% in less than 90 days. 

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