General Electric Co (NYSE:GE) Signaling Weakness

This morning, leading diversified industrial company General Electric Co GE is failing to rally with the major stock indexes. The stock has been declining since April 20, 2017 when it traded as high as $30.54 a share. Today, GE stock is trading around the $28.00 level. So where is the next major chart support level for GE stock? If traders go back and look at a weekly or monthly chart they will notice a major breakout for GE stock occurred in October 2015. This tells me that the stock will be defended around the $26.00 level when it trades down to that area. So here is the trade, buy GE stock when it trades down to $26.00. Use a weekly chart stop loss with a close below the $24.75 level. The first upside target will be at $27.30, the second target around $30.00.