General Electric Finally Clears $30

General Electric Company GE shares are trading higher by $0.29 at $30.04 in Tuesday's session. After stalling at $29.95 in its two previous sessions, the issue has finally cleared the institutional sellers that have been lingering at $30 level for quite some time.

After a lower open, the issue bottomed at $29.61 and began to move higher. So far, it has reached $30.27 and has retreated back towards $30. General Electric has not closed over $30 since June 10, 2008 (start of the financial crisis), when it ended the session at $30.33.

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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