General Electric Company (GE) - Major Breakout Happened On Huge Volume

General Electric Company (NYSE: GE) looks like the stock is ready move up as it is trading above its 20-Day and 200-day EMA of $14.33 and $14.41. Also MACD is smoothly moving towards 0.50 indicating a positive divergence.

In the last few trading sessions, I noticed some unusual activities on the stock and yesterday it surged 4.23% and closed at $16.00. Yesterday, a total of over 209 million shares were traded- Which is over 2X than its average volume.

I expect GE to move up towards its next two key resistances at $18.25 and $20.67.

Also Steven E. Winoker of Bernstein Research on Tuesday, raised his 2011 earnings estimate to $1.29 per share from $1.27 and his per-share estimate for 2012 to $1.53 from $1.50 and also raised his price target to $17 from $16.