Author: Josh Selway / Source: Schaeffers Research
The shares of General Electric Company (NYSE:GE) had been hovering just above the $10 mark for almost a month, hinting at a potential layer of round-number support. However, a bearish brokerage note came out this morning and now has GE stock down 5.
3% at $9.48, which would have it closing below the 50-day moving average for the first time since early January.Diving into the details, J.P. Morgan Securities lowered its rating on the security to “underweight” from “neutral” and dropped its price target to $5 from $6, saying that Wall Street is underestimating…
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