Bearish DailyPlay for Thursday May 19th, 2016 – General Electric (GE)
The bearish DailyPlay we chose for Thursday May 19th is General Electric (GE). GE is part of the Industrials Sector (XLI). Over the last month, XLI has experienced a 2.18% move lower and its 1m trend turned bearish and 6m trend turned neutral today.
General Electric’s 1m and 6m trends turned bearish on 5/13 and recently broke below its $30 support level on high volume. With a technical score of 4 (out of 10), GE looks positioned to continue this bearish trend lower.