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General Electric Lower Despite Q1 Beat

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General Electric Company (NYSE: GE) shares are trading lower by $0.35 (1.1 percent) at $29.92 in Friday's session.

Despite a Q1 EPS beat of $0.04 along with strong revenue beat of $1.3 billion, the issue is trading in the red in the regular session.

That wasn't the case in pre-market trading. In fact, the issue bolted to $30.99 after the release and sharply reversed course. After a flat open, it had a brief pop to $30.38 before sellers swarmed the stock. It breached Thursday's low ($30.03) and continues to make new lows for the session, with current one standing at $29.88, which is one penny above Wednesday's low of $29.87.

If the decline continues, there may be additional support at the series of four lows from April 12 to April 17 in the $29.55 to $29.65 area.

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