Shares of General Electric Company (NYSE:GE) may be about to rebound as they're getting close to a level that has been support in the past.

What To Know: Since the end of April, GE shares have dropped to the $12.75 level on three separate occasions and a rebound followed each time.

Support is a large group of investors who are all trying to buy shares at the same price. In this case, it’s $12.75.

Why It's Important: At support levels, there is more demand than supply. That’s why downtrends tend to end when they reach them.

And sometimes the bulls retake control of the market and drive the price higher. There’s a chance it happens to GE for a fourth time.