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Market Extra: GE’s stock breakout after record Paris Air Show orders confirms bullish technical tone

Shares of General Electric Co. surged Thursday, to achieve a technical breakout that would confirm a bullish technical tone, after the industrial conglomerate said its aviation unit announced record orders at the Paris Air Show this week.

The stock GE, -1.41% rose 2.8% to $10.63, marking the first close above $10.50, despite multiple previous attempts, since Feb. 27.

The stock had reached or surpassed $10.50 in intraday trading nine times before, with highs ranging from $10.50 to $10.85, but the highest close since Feb. 27 was at exactly $10.50 on May 3.

FactSet, MarketWatch

GE Aviation said CFM International, a 50-50 joint venture between GE and France-based Safran S.A.

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