General Electric (NYSE:GE) is one of the most diversified companies in the world. Recently, its stock price jumped higher after a new CEO was announced but since that spike, has been retreating lower. On Thursday, GE traded around $27 a share.
Many traders and investors may think the stock is on sale since declining from its recent peak of $29.24 on June 12. Unfortunately, the stock has lower to go before finding a solid trade-worthy bottom. In the meantime, look for the stock to trade down to the $25.90 area, which is where it broke out of a two-year trading base. Very often, such bases serve as major institutional chart support when retested. And that's why the stock charts are more important than the news.
