Is Genie (GNE) Ready to Breakout?

Zacks

Genie Energy Ltd (GNE) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for GNE broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 21.2% in the past four weeks. Plus, the company currently has a Zacks Rank #4 (Sell) meaning that now could definitely be the time to get out of this potentially in-trouble stock.



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