GE’s stock rallies again, to within pennies of the 200-day moving average

on Feb27
by | Comments Off on GE’s stock rallies again, to within pennies of the 200-day moving average |

General Electric Co.’s stock














GE, +1.92%












rose 1.9% in afternoon trade Wednesday, to within a fraction of the widely watched 200-day moving average. The stock’s gain comes after CEO Larry Culp pledged late Tuesday to return the company to its former glory, and two days after it announced the sale of its biopharma business for $21.4 billion. The stock is currently trading just 2 cents below the 200-day moving average (DMA), which many view as a dividing line between longer-term uptrends and downtrends. The stock hasn’t closed above its 200-DMA since Jan. 19, 2017; the current 528-day streak below its is the longest such stretch since data is available on FactSet back to February 1979. GE shares have run up 51.6% over the past three months but has shed 22.2% over the past 12 months, while the Dow Jones Industrial Average














DJIA, -0.21%












has gained 5.1% the past three months and advanced 2.3% the past year.

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