General Electric (GE) Down 1.5% as New Greece Developments Roil Markets

Posted: Monday, January 30, 2012 11:45 AM EDT
By: Bobby Raines





General Electric (NYSE: GE) tumbled Monday as the news that Greece is unwilling to hand over budget policy decisions to European decision makers, which could hold up the next round of bailouts.

An April 20/22 Out of The Money Bear-Call Credit Spread looks like an attractive way to play GE today. This strategy aims for a return of 11.11% and GE is 7% out of the money. Recent support for this stock has been demonstrated near $18.82 while resistance has been around $19.24.

General Electric is trading today at $18.75, down $0.28 (-1.47%) from yesterday’s close. The stock began the day trading at $18.83 and has moved between $18.70 and $18.88. Recent technical indicators for the stock are bullish and Standard & Poor’s gives GE a positive 4 STARS (out of 5) buy. [MarketIntelligenceCenter.com]



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Hedged Trade Ideas For GE:

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