After a 3-week consolidation, General Electric’s stock (GE) looks ready for a strong move higher.
I have a near-term price target at $14.50, +28% from here.
Momentum is curling higher and GE stock looks poised to test its December highs. A move above that level will confirm the breakout higher.
Probably wise to use SPY as the hedge, along with a stop near recent lows around $10.35.
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.