General Electric (GE) All Set For A Lower Bottom

General Electric GE fell 4.4% by early afternoon trading on Thursday to $16.50, after making an even wider gap down opening on Thursday. The reversal in sentiment on General Electric (GE) came after Wal-Mart Stores Inc. WMT recalled about 900,000 General Electric-branded coffee makers on reports that the appliances burned, melted and caused a house fire, according to U.S. regulators. Following a major trend reversal on Thursday, General Electric (GE) breached below its major support line of 200 day MA around $16.68. The stock is likely to test lower levels in near future.