General Electric Fails to Follow the Broader Market Movement

By | May 26, 2016

General Electric (GE) closed off its highs and near the bottom of its range in Wednesday’s session, forming a high wick doji candle similar to others seen at previous failed tests of its channel downtrend line. The major indices have broken through similar downtrend lines on their charts this week, unlike GE which is generally a good proxy for the broader averages. Over the last two months the DJIA has outperformed GE by 5.3% and the S&P 500 index has outperformed the stock by 5.9%. This atypical relationship is something to continue to watch.

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