BOSTON, MA – Shares of General Electric Co (NYSE: GE) closed down significantly on Thursday after a promising morning rally was completely erased by afternoon selling pressure, with the stock continuing its slide in after-hours trading.
The industrial giant closed the official session at
3.27 (1.36%). The day was a tale of two halves for investors. After opening at
238.00** before noon. However, the gains proved unsustainable as the stock reversed course, giving up all its gains and more. The negative momentum persisted after the bell, with shares ticking down another
236.30 in the post-market.
Analysis and Outlook for Monday:
The inability of GE to sustain its early gains is a significant bearish indicator. This type of price action, where a stock fails to hold its highs and reverses lower, suggests that sellers have taken control from the buyers. The continued decline in the after-hours session, even if modest, reinforces this negative sentiment and signals a lack of investor appetite to buy the dip.
Given the strong rejection at the
233.70** at the market open. The $238 mark will now likely act as a key resistance level that will be difficult for the stock to surpass without a significant positive catalyst.
